Sandhar Technologies Ltd - Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
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| 16 Oct 2020 | |
| We are pleased to inform that the Company has entered into a Supplementary agreement to the Joint Venture (JV) Agreement dated 4th September 2017, between Sandhar Technologies Limited (STL) and Amkin Group Private Limited ('AGPL') for establishing Sandhar Amkin Industries Private Limited, (SAIPL) as a JV (50:50).<BR> The said Supplementary Agreement dated 15th October 2020, proposes the following: a)STL will convert its existing Loan of Rs.2,80,00,000/- into equity share capital of SAIPL, consequent to that, the Equity Pattern of SAIPL shall stand modified to 57.2% and 42.8%. b)STL has agreed that it may infuse additional equity upto Rs.2,20,00,000/- in SAIPL till 31st March 2021, towards growth capital of the JV. c)AGPL, the JV Partner is entitled to bring the equity shareholding pattern to 50:50, as per the terms of Supplementary Agreement. Disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (LODR) Regulations, 2015 is annexed.<BR> | |
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