Quarter 3
January 24, 2019
This is to inform that a Meeting of Board of Directors of the Company will be held on Monday, the 4th February 2019 to transact the following items.
· To consider and take on record the Unaudited Quarterly Standalone Financial Results of the Company for the period ended 31st December, 2018.
· To consider and take on record the Unaudited Quarterly Consolidated Financial Results of the Company for the period ended 31st December, 2018.
January 24, 2019
A Letter of Award has been received for the deployment of jack-up rigs “ ABAN III and ABAN IV ” from ONGC for a firm period of three years each. The deployment is expected to commence during the financial year 2019-20.
November 5, 2018
There will be an Analyst / Investors call on the financial results for the Second quarter ended 30th September 2018, on Friday, 9th November 2018 at 04:30 pm (IST), please Click here the details of the call.
October 30, 2018
This is to inform that a Meeting of Board of Directors of the Company will be held on Thursday, the 8th November 2018 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, 2018.
· To consider and take on record the Unaudited Quarterly Consolidated Financial Results of the Company for the period ended 30th September, 2018.
Further, the trading window will be closed from October 31, 2018 to November 8, 2018 (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.
October 16, 2018
Further to our announcement dated 9th October 2018 in respect of acquisition of 100% interest in a UK Continental Shelf Production License and sale of 50 % interest in the same, we wish to inform you that the above said transactions have been completed.
October 09, 2018
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 please be informed that a wholly owned step-down subsidiary of the Company has entered into a conditional sale and purchase agreement to acquire 100% interest in a United Kingdom (UK) Continental Shelf Production License comprising of 100% interest in two blocks in UK North Sea, for a non-cash consideration of USD 75 million. The consideration shall be set-off against amounts due from certain customers to another wholly owned step-down subsidiary of the Company for drilling services provided.
The first mentioned wholly owned step-down subsidiary has also entered into a conditional sale and purchase agreement to sell a 50% interest in the abovementioned license / blocks immediately upon completion of the acquisition, for a cash consideration of USD 37.5 million to an unrelated party.
Both the acquisition and sale are subject to customary closing conditions including the written consent of the UK Oil and Gas Authority.
Upon completion of the transactions, the first mentioned wholly owned step-down subsidiary of the Company and the counterparty purchasing 50% stake from the first mentioned wholly owned step-down subsidiary, will each own 50% interest in the above said license/block, while the counterparty purchasing 50% stake will be the operator.
October 3, 2018
With reference to the captioned subject, we would like to inform you that our Stepdown subsidiary Aban Singapore Pte Ltd, has incorporated a subsidiary Caldera Petroleum (UK) Ltd in UK.
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. | Caldera Petroleum (UK) Ltd, Newly incorporated subsidiary of Aban Singapore Pte Ltd. with paid up capital of 1000 UK Pounds . |
| 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 Caldera Petroleum (UK) 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 | Oil Field Operator. |
| 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 | Caldera Petroleum (UK) Ltd, is incorporated to facilitate the group to acquire hydrocarbon reserve field in UK. |
| 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 :: 1000 Equity shares at a face value @ GBP 1/- per equity share. |
| 9 | Percentage of shareholding/Control acquired or number of shares acquired. | 100 % Shares of Caldera Petroleum (UK) Ltd subscribed by Aban Singapore Pte 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 Singapore Pte Ltd has incorporated a new Company in UK viz. Caldera Petroleum (UK) Ltd a newly incorporated Company to facilitate the group to get into the business ownership in hydrocarbon reserve field. History /Turnover : Not applicable Country : UK |