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Elgi Equipments Ltd. — Capital/Financing Update 2020
Jul 17, 2020
60896_rns_2020-07-17_615ea07e-829e-44b9-b707-0bb35171c40e.pdf
Capital/Financing Update
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| BOMBAY STOCK EXCHANGE LIMITED PHIROZE JEEJEEBHOY TOWERS DALAL STREET MUMBAI - 400001 |
NATIONAL STOCK EXCHANGE OF INDIA LIMITED “EXCHANGE PLAZA” BANDRA KURLA COMPLEX BANDRA (E) MUMBAI - 400051 |
|---|---|
| ScripCode: 522074 | ScripCode: ELGIEQUIP |
Dear Sirs, DATE: 17/07/2020
Sub: Intimation of further Investment in the capital of Evergreen Compressed Air and Vacuum LLC by Elgi Compressors USA Inc, wholly owned subsidiary of the Company.
Ref: Our earlier intimation on Investment in the capital of Evergreen Compressed Air and Vacuum LLC by Elgi Compressors USA Inc, wholly owned subsidiary of the Company dated 24/05/2019.
This is with reference to our earlier intimation about Investment in the capital of Evergreen Compressed Air and Vacuum LLC by Elgi Compressors USA Inc, wholly owned subsidiary of the Company dated 24/05/2019. This wholly owned Subsidiary had subscribed and invested to an extent of $ 1,34,000 (Class A shares) constituting 50% of total capital of Evergreen Compressed Air and Vacuum LLC on 22/05/2019, by virtue of Operating Agreement executed between its members and a Subscription Agreement effective 01/06/2019 for capital contribution signed between the wholly owned subsidiary and Evergreen Compressed Air and Vacuum LLC .
Now, we wish to inform that Elgi Compressors USA Inc, has further agreed to invest in Class B shares up to an extent of $ 1,00,000 vide an amendment to the said operating agreement executed between the members on 16/07/2020. This investment will be done in tranches. The first tranche of $ 75,000 in Class B shares has been invested on 16/07/2020. The Class B shares shall be fully owned by Elgi Compressors USA Inc, without voting rights but shall entitle it with preferential payment of invested capital and preferred returns.
Kindly acknowledge the receipt of this letter and update your records.
Thanking you,
Yours faithfully,
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