South West Pinnacle Exploration Limited (SWPE) has filed a regulatory disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding the completion of its investment in the rights issue of Alara Resources Limited (ARL), a company listed on the Australian Stock Exchange.

Investment Details

  • Confirmation Date: August 28, 2026 (via email from ARL)
  • Issue Type: Rights Issue of equity shares
  • Issue Price: AUD 0.032 per share
  • Payment Method: Cash consideration remitted through normal banking channels
  • Regulatory Framework: Investment covered under automatic route of Foreign Exchange Management (Overseas Investment) Rules, 2022

Share Allotment Details

| Entity | Shares Allotted |

| South West Pinnacle Exploration Limited | 1,87,91,597 |

| Mr. Vikas Jain | 67,86,889 |

| Mr. Piyush Jain | 43,79,915 |

| Total | 2,99,58,401 |

Shareholding Changes

| Entity | Pre-Issue Shares | Post-Issue Shares |

| SWPE | 1,25,00,000 | 3,12,91,597 |

| Mr. Vikas Jain | 45,245,930 | 52,032,819 |

| Mr. Piyush Jain | 29,199,437 | 33,579,352 |

| Total Aggregate | 8,694,5367 | 11,690,3768 |

Aggregate shareholding percentage increased from 10.83% to 12.66% post-allotment.

Background on Acquired Entity

Alara Resources Limited (ARL)

  • Business: Australia-based mining and exploration company focused on Middle East operations, particularly Oman for copper and other metals including zinc, silver, and gold
  • Listing: Australian Stock Exchange
  • Date of Incorporation: December 6, 2006
  • Country of Presence: Perth, Australia
  • Historical Turnover (audited accounts):
  • 2025: AUD 55,122,260
  • 2024: AUD 5,462,901
  • 2023: NIL

Relationship Context

SWPE has two joint ventures in Oman with ARL's wholly owned subsidiary Alara Oman Operations Pty Limited (AOOP):

1. Alara Resources LLC

2. Al Hadeetha Mining LLC (AHML)

Mr. Vikas Jain, Promoter, Chairman & Managing Director of SWPE, also serves as director on the board of ARL.

Strategic Rationale

The investment is intended to create operational synergies between SWPE and ARL, being in the same line of business (mining and exploration). Additionally, the investment will help in furtherance of SWPE's joint venture operations in Oman with ARL's subsidiary.

Related Party Aspects

The acquisition involves related parties as the promoters are participating alongside the company. The transaction is stated to be at "arm's length" and falls within related party transactions.