Transworld Sells Vessel TBC Kailash for $9.25M

Key Transaction Details

The company has signed an MOA for the sale of one vessel named 'TBC Kailash' to Mandarine Ocean Ltd. The vessel was owned by Transworld Shipping Lines Limited. The transaction consideration is US$ 9,250,000.

Relationship and Transaction Type

The company confirmed that:

• There is no shareholding in Mandarine Ocean Ltd
• The parties are not related to promoter/promoter group/group companies in any manner
• The transaction does not fall within related party transactions
• The transaction is conducted at arm's length

Additional Information

The annexure specifies that there are no special rights (like right to appoint directors, first right to share subscription, or right to restrict capital structure changes) associated with this agreement. There are also no disclosures regarding nominee directors or potential conflicts of interest.

Financial Impact

The transaction value is quantified at US$ 9,250,000, representing the sale consideration for the vessel.