Summary of Key Information:
Reporting Period (Quarter/Year): Not Applicable
Nature of Filing / Announcement: Outcome of Board Meeting - Subsidiary Incorporation
Audit Opinion:
Not Specified
Key Financial Highlights:
Not Specified
Corporate Actions:
The Board approved the incorporation of a wholly owned subsidiary company in Chad under the proposed name "Manorama CFA Savannah Chad Agro SARL" (subject to approval of authorities).
- Subsidiary will have Authorised Capital: CFA 1,00,00,000
- Paid-up Capital: CFA 1,00,00,000
- Investment Amount: CFA 1,00,00,000 (CFA One Crore only)
- Investment Structure: 100% subscription to initial paid-up capital in Cash
- Investment Timeline: Will be made in one or more tranches as per business requirement
- Shareholding: 100% ownership by Manorama Industries Limited
Other Significant Information:
- Business Objective: The subsidiary will engage in buying, processing and selling of shea nuts/butter and other materials
- Industry: Trading
- Location: Chad
- The proposed entity is yet to be incorporated (no historical financials available)
- No indicative time period for completion of the acquisition provided