November 29, 2017
With reference to the captioned subject, we would like to inform you that our Stepdown subsidiary Aban Singapore Pte Ltd, has incorporated a subsidiary Aban Hydrocarbons Pte Ltd.
The details as required under Regulation 30 of the SEBI ( Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD4/2015 dated 9th September, 2015 are as under:
| 1 | Name of the Target Company, details in brief such as size, turnover etc. | Aban Hydrocarbons Pte Ltd, Newly incorporated subsidiary of Aban Singapore Pte Ltd. with paid up capital of 100 USD . |
| 2 | Whether the acquisition would fall within related party transaction(s) and whether the promoter /promoter group / group companies have interest in the entity being acquired ? | The initial subscription by Step down subsidiary Aban Singapore Pte Ltd in Aban Hydrocarbons Pte Ltd does not fall within the purview of Related Party Transaction. The Promoter /Promoter Group /Group Companies does not have any interest in the above entity. |
| 3 | Industry to which the entity being acquired belongs | Offshore Oil and Gas Exploration |
| 4 | Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of listed entity / the Company | Aban Hydrocarbons Pte Ltd, Singapore is incorporated to facilitate the group to participate in more tenders. |
| 5 | Brief details of any governmental or regulatory approvals required for the acquisition. | Not Applicable |
| 6 | Indicative time period for completion of the acquisition | Not Applicable |
| 7 | Nature of consideration – Whether cash consideration or share swap and details of the same | Cash |
| 8 | Cost of acquisition or the price at which shares are acquired | Total Number of Shares :: 100 Equity shares at a face value @ USD 1/- per equity share. |
| 9 | Percentage of shareholding/Control acquired or number of shares acquired. | 100 % Shares of Aban Hydrocarbons Pte Ltd subscribed by Aban Singapore Ptd Ltd. |
| 10 | Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence. | Aban Hydrocarbons Pte Ltd a newly incorporated Company to facilitate the group to participate in more tenders. History /Turnover : Not applicable Country : Singapore |
October 30, 2017
This is to inform that a Meeting of Board of Directors of the Company will be held on Wednesday, the 8th November 2017 to transact the following items.
• To consider and take on record the Unaudited Quarterly Standalone Financial Results of the Company for the period ended 30th September, 2017.
• To consider and take on record the Unaudited Quarterly Consolidated Financial Results of the Company for the period ended 30th September, 2017.
Further, the trading window will be closed from October 31, 2017 to November 8, 2017 (both days inclusive) in connection with the approval of the financial results and shall reopen after the expiry of 48 hours from the time of publication of results.
November 6, 2017
There will be an Analyst / Investors call on the financial results for the Second quarter ended 30th September 2017 on Wednesday, 8th November 2017 at 04:30 PM (IST). Please click here to view the attachment version.