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VA Tech Wabag Limited Capital/Financing Update 2020
62666_rns_2020-04-01_2ea6b071-38c4-414f-af52-c95667978562.pdf
Capital/Financing Update
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An ISO 9001 Company April 1, 2020
Listing Department, National Stock Exchange of India Limited, Plot No C/1, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai – 400051
Department of Corporate Services BSE Ltd, Floor 25, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001
Company : VA TECH WABAG LIMITED Symbol /Scrip Code : WABAG / 533269
Dear Sir/Madam,
Sub: Intimation on change in shareholding of overseas step down subsidiary in Namibia - partial disinvestment of shares
Ref : Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015 ("SEBI LODR").
The Company through its Austrian Subsidiary viz., VA Tech Wabag GmBH had formed a special purpose vehicle in 2013 viz., Ujams Wastewater Treatment Company (Proprietary) Ltd in Namibia ("Ujams") and had been holding 66.4% equity stake along with other overseas JV partners.
Ujams was formed by the JV partners under BooT model for City of Windhoek's Department of Infrastructure, Water and Technical Services, Namibia. As part of Wabag Group strategy to remain asset light, the management of Wabag Austria decided to transfer its majority stake in the subsidiary entity in Namibia viz., to the extent of 58% to other JV partner.
The share transfer and other formalities between VA Tech Wabag GmbH, Austria and JV Partner has been completed on 31st March 2020 and post this transfer, the Company's Austria subsidiary holds 8.4% in Ujams."
The details as required under SEBI LODR is given in Annexure. This intimation is in compliance with Regulation 30 Schedule III of SEBI LODR and will also be available on the Website of the Company www.wabag.com in compliance with SEBI LODR.
We request you to kindly take the above on record.
Thanking you, Yours faithfully, For VA TECH WABAG LIMITED R. Swaminathan Company Secretary & Compliance Officer Membership No. A17696 RAMANAN SWAMINATH AN Digitally signed by RAMANAN SWAMINATHAN Date: 2020.04.01 23:47:28 +05'30'
Sustainable solutions, for a better life _______________________________________________________________
VA TECH WABAG LIMITED
CIN: L45205TN1995PLC030231 "WABAG HOUSE", No.17, 200 Feet Thoraipakkam-Pallavaram Main Road, Sunnambu Kolathur, Chennai 600 117, India.
Board : +91- 44 - 6123 2323 : +91- 44 - 4223 2323 Fax : : +91- 44 - 6123 2324 Email : [email protected] Web : www.wabag.com
An ISO 9001 Company
ANNEXURE
| Sl | Particulars | Details |
|---|---|---|
| No.1. | The amount and percentage of the turnover orrevenue or income and net worth contributed bysuch unit or division (ie., step down subsidiary) ofthe listed entity during the last financial year | Turnover and Networth as on 31stMarch 2019Turnover - INR - 3,123 LakhsThestepdownsubsidiarycontributed 1.15% of the turnoverof the listed entity during the lastfinancial year.Networth - INR - 2,719 LakhsThestepdownsubsidiarycontributed 2.50% of the net |
| worth of the listed entity duringthe last financial year | ||
| 2. | Date on which the agreement for sale has beenentered into | - |
| 3. | The expected date of completion of sale/disposal | 31st March 2020 |
| 4. | Consideration received from such sale/disposal | Namibian Dollar 78.3 million |
| 5. | Brief details of buyers and whether any of thebuyers belong to the promoter/ promotergroup/group companies. If yes, details thereof | Veolia Eau – Compagnie GeneraleDes Eaux, the Joint venturepartner of Ujams, having its officeat 21, Rue de la Boetie, Paris,FranceThe Buyer does not belong to thepromoter/promoter group of thiscompany. |
| 6. | Whether the transaction would fall within relatedparty transactions? If yes, whether the same is doneat "arms length"; | - |
| 7. | Additionally, in case of a slump sale, indicativedisclosures provided for amalgamation/merger,shall be disclosed by the listed entity with respect tosuch slump sale | - |