Madhucon Projects Ltd has informed that the Board of Directors of the Company at its meeting held on February 11, 2008, after detailed deliberations in principal has approved the proposal for transferring the following investments (transaction shares) to Madhucon Infra Ltd on arm-length basis subject to concurrence of the shareholders and the Madhucon Infra Ltd will be the wholly owned subsidiary of the Company.
1. Name of the Project: Madhucon Agra - Jaipur Expressways Ltd
- Value: Rs 430,540,000.00
2. Name of the Project: TN (DK) Expressways Ltd
- Value: Rs 631,978,000.00
3. Name of the Project: Trichy-Thanjavur Expressways Ltd
- Value: Rs 558,462,800.00
4. Name of the Project: Madurai-Tuticorin Expressways Ltd
- Value: Rs 866,240,000.00
All these transfer of shares are subject to the restrictions and approvals to the ProjectAgreement, Shareholder Agreement, Financing and Security Documents in relation toSPVs Madhucon AgraJaipur Expressways LtdTrichy Thanjavur Expressways LtdTN(DK) Expressways LtdMadhurai Tuticorin Expressways Ltd.
The purpose of this transfer of investment is necessitated as the Company has decided to segregate the EPC business and the investments in BOT Projects, other investments in infrastructure power & coal mine into Madhucon Infra Ltd which is a wholly subsidiary to the Company. This is necessitated as net worth and capital required for these BOT Projects and investment in other infrastructure projects such as Power & Coal Mine are huge. Hence the investment in these infrastructure projects are now decided to be through separate vehicle viz Madhucon Infra Ltd which shall be a holding Company for thea. BOT Toll Road Projects
b. Power Projects
c. Coal Mines
subject to the approval of the shareholders and the concerned Authorities and Agencies.
1. Name of the Project: Madhucon Agra - Jaipur Expressways Ltd
- Value: Rs 430,540,000.00
2. Name of the Project: TN (DK) Expressways Ltd
- Value: Rs 631,978,000.00
3. Name of the Project: Trichy-Thanjavur Expressways Ltd
- Value: Rs 558,462,800.00
4. Name of the Project: Madurai-Tuticorin Expressways Ltd
- Value: Rs 866,240,000.00
All these transfer of shares are subject to the restrictions and approvals to the ProjectAgreement, Shareholder Agreement, Financing and Security Documents in relation toSPVs Madhucon AgraJaipur Expressways LtdTrichy Thanjavur Expressways LtdTN(DK) Expressways LtdMadhurai Tuticorin Expressways Ltd.
The purpose of this transfer of investment is necessitated as the Company has decided to segregate the EPC business and the investments in BOT Projects, other investments in infrastructure power & coal mine into Madhucon Infra Ltd which is a wholly subsidiary to the Company. This is necessitated as net worth and capital required for these BOT Projects and investment in other infrastructure projects such as Power & Coal Mine are huge. Hence the investment in these infrastructure projects are now decided to be through separate vehicle viz Madhucon Infra Ltd which shall be a holding Company for thea. BOT Toll Road Projects
b. Power Projects
c. Coal Mines
subject to the approval of the shareholders and the concerned Authorities and Agencies.
No comments:
Post a Comment