Summary of Key Information:
Reporting Period (Quarter/Year): Not Applicable
Nature of Filing / Announcement: Outcome of Board Meeting pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015
Corporate Actions:
1. Incorporation of Wholly Owned Subsidiary in Abu Dhabi:
- Approval for incorporation of wholly-owned subsidiary in Abu Dhabi, United Arab Emirates
- Proposed entity name: Likhitha Infrastructure Middle East LLC (subject to regulatory approval)
- Country of Incorporation: Abu Dhabi, United Arab Emirates
- Ownership: 100% wholly-owned subsidiary of Likhitha Infrastructure Limited
- Industry: Oil and Gas Pipeline/EPC infrastructure Contracting
- Consideration: Cash subscription to share capital
- Cost: Not currently specified
- Governmental approvals: Not applicable except approval of competent authority if required
2. Acquisition of Additional Stake in Saudi Subsidiary:
- Acquisition of additional 30% shareholding in Likhitha HAK Arabia Contracting Company from Arabian HAK Company Ltd.
- Current ownership: 60%
- Post-acquisition ownership: 90%
- Consideration: Cash payment up to SAR 525,000 (Saudi Riyals)
- Number of shares: 150 equity shares representing 30% of paid-up equity share capital
- Timeline: Expected completion within 6 months
- Governmental approvals: No governmental or regulatory approval required
- Target company details: Likhitha HAK Arabia Contracting Company, incorporated December 10, 2022 in Kingdom of Saudi Arabia
- Business: Oil & Gas EPC (Engineering, Procurement & Construction) services including pipelines, refineries and oil wells
- Operations: Kingdom of Saudi Arabia
- Historical turnover: NIL for last 3 years
Other Significant Information:
- The proposed UAE subsidiary will become a related party upon incorporation under applicable regulations
- The Saudi acquisition is subject to applicable valuation requirements and definitive contractual agreements
- All procedural requirements and compliances will be completed in the ordinary course of transaction