SAAG RR Infra - Divestment in subsidiaries

SAAG RR Infra Ltd has informed BSE that the Company has sold its 60% stake in TPS Builders Ltd for a total consideration of Rs 1,89,76,500 to SAAG (Mauritius) Ltd. Subsequent to the said sale, TPS Builders Ltd ceases to be a subsidiary of the Company with effect from October 01, 2009.

Further the Company has informed that SAAG RR Oil & Gas Technology Ltd, a subsidiary of the Company has allotted 4,50,000 Equity Shares of Rs 10 Each for cash at a Premium of Rs 476.17 per Equity Share to SAAG Oil And Gas Sdn Bhd, Malaysia. Subsequent to the said allotment, SAAG RR Oil & Gas Technology Ltd, ceases to be a subsidiary of the Company with effect from October 01, 2009.