Nature of Event
IKIO Technologies Limited disclosed under Regulation 30 of SEBI Listing Regulations that its step-down subsidiary, Royalux FZCO, UAE, entered into a Vendor Exclusivity Undertaking with Danube Home LLC, Dubai, UAE.
Key Quantitative Figures
- Target business value: AED 2,000,000 (Two Million UAE Dirhams) during the one-year term, which is not a fixed or guaranteed contractual consideration.
Parties Involved
- IKIO Technologies Limited (listed entity)
- Royalux FZCO, UAE (step-down subsidiary)
- Danube Home LLC, Dubai, UAE (counterparty)
Financial Impact
The target business value of AED 2,000,000 is a business target and does not constitute a fixed or guaranteed contractual consideration. Financial impact is not quantified in the disclosure.
Capital Structure Impact
No capital structure impact, as there is no issuance of shares or change in shareholding.
Cash Flow Implications
Not disclosed.
Significant Terms of Agreement
- Tenure: One (1) year from the date of the undertaking (October 7, 2026).
- Business Target: Parties intend to work towards achieving AED 2,000,000 in business value.
- Exclusivity: Royalux FZCO shall not bypass, compete with, or exclude Danube Home LLC in relation to clients or opportunities obtained through Danube. During the exclusivity period and for 12 months thereafter, Royalux FZCO shall not solicit or accept project work directly from clients first introduced by Danube without prior written approval.
- Compliance: Royalux FZCO is responsible for compliance by its owners, affiliates, personnel, and subcontractors.
- Assignment: Royalux FZCO cannot assign, delegate, or subcontract without Danube's prior written approval.
- Governing Law: Federal laws of UAE and laws applicable in the Emirate of Dubai.
Related Party Transactions
No shareholding or relationship to promoter/promoter group/companies. The transaction is not a related party transaction and is at arm's length.
Other Disclosures
- No issuance of shares or loans involved.
- No termination or amendment disclosed.