Ashok Leyland Ltd. — M&A Activity 2019

Jan 2, 2019

S.No.	Details of the Event	Informationofsuch events
1.	Name of the Target entity, details in	Ashley Aviation Limited (AAL)
	brief such as size, turnover etc.	Revenue as on March 31,2018: Rs.962.19
		Lakhs
2.	a, whether the acquisition would fall	Not applicable
	within related party transaction(s)
	b. whether the promoter/ promoter	No
	group/ group companies have any
	interest in the entity being acquired
	c. If yes, nature of interest and details
	thereof and whether the same is	-
	done at "arm's length"
3.	Industry to which the entity being	Aviation sector
	acquired belongs
4.	Objects and effects of acquisition	The Company owns 49% in the paid-up share
	(includingbutnotlimitedto,	capital of AAL and the remaining is held		by
	disclosure of reasons for acquisition	various individual shareholders. The Company
	of target entity, if its business is	proposes to acquire the shares held by the
	outside the main line of business of	individuals in AAL to makeitas a wholly
	the listed entity)	owned subsidiary of the	Company. The
		Company has also obtained	the approval	of
		the Ministry of Civil Aviation in this regard.
		Asapart of the same, the Company has
		acquired27.25%from	anindividual
		shareholder.
5.	Brief details of any governmental or	The Company has obtained	the approval	of
	regulatory approvals required for the	the Ministry of Civil Aviation.
	acquisition
6.	Indicative time period for completion	The Company proposes to acquire the balance
	of the acquisition	equity shares held by individuals in AAL before
		March 31,2019
				.
7.	Nature of consideration-whether	Cash
	cash consideration or share swap and
	details of the same
8.	Cost of acquisition or the priceat	Rs.55.59 Lakhs
	which the shares are acquired

S.No.	Details of the Event	Information of such events
9.	Percentage of shareholding/ control	27.25% of the total paid-up capital of AAL.
	acquired and /or number of shares
	acquired
10	Brief background about the entity	AALisengaged in the business of aviation
	acquired in terms of products/line of	sector. The audited financials of the last
	businessacquired,dateof	three years are given below:
	incorporation, history of last3years	Rs. in Lakhs
	turnover,countryin which the
	acquired entity has presence and any
	other significant information (in brief);