AIA ENGINEERING LTD. - 532683 - Announcement under Regulation 30 (LODR)-Acquisition
With reference to the captioned subject, Vega Industries (Middle East) FZC, UAE ("VEGA ME"), a Wholly Owned Subsidiary of the Company, has entered into an Agreement to acquire 30% stake in the business of Mining Products and Service Pty. Ltd., (MPS), Australia, by entering into Share Purchase Agreement and Shareholders'' Agreement with Promoters of Vega MPS Pty. Ltd., Australia, a newly incorporated Company, created by Promoters of MPS. These agreements are subject to transfer of business of MPS into Vega MPS Pty. Ltd. VEGA ME has an option to acquire additional 40% Shares of Vega MPS Pty. Ltd. over a period of 3 years. The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated 11th July, 2023 are given in Annexure A to this letter.04-08-2023