ASIAN ENERGY SERVICES LIMITED : STRATEGIC COLLABORATION AND SALE OF 26% EQUITY SHAREHOLDING IN SUBSIDIARY

• Board approved a strategic collaboration with Sadhav Shipping Limited for a Joint Venture in AOSL Energy Services Limited (“AOSL”), a wholly owned subsidiary. • Board approved the sale/transfer of 26% of AOSL's equity share capital (2,600 equity shares of ₹10/- each) to Sadhav. • The Joint Venture aims to leverage complementary capabilities for identifying and exploring business opportunities in marine and allied sectors serving the offshore oil and gas industry. • Upon completion of the sale, Asian Energy Services' shareholding in AOSL will reduce from 100% to 74%, and AOSL will cease to be a wholly owned subsidiary. • Details as per SEBI LODR Regulations, 2015, are provided in Annexure A.

Asian Energy Services Limited

Open attachment

← Back to feed