Camlin Fine Sciences Forms JV With Pahang Pharma, Singapore
Camlin Fine Sciences Limited has entered into a joint venture agreement with Pahang Pharma (S) Pte Limited, a company duly incorporated under the laws of Singapore. The disclosure related to the proposed joint-venture is as follows:
a) Name of the party(ies) with whom the agreement is entered:
Pahang Pharma (S) Pte Limited, a company organized under the Laws of Singapore and having its office at 20 Maxwell Road, #09-17 Maxwell House, Singapore.
b) Purpose of entering into the agreement:
For incorporating a company in Singapore who shall be holding a company for its subsidiary(ies) which shall be incorporated in ASEAN countries as per the business model basically to engage in research, development, production, trade and dealing in animal feed ingredients and animal feed nutrition products viz. Antioxidants, binders, acidifiers, stabilizers, disinfectants etc.
c) Shareholding, if any, in the entity with whom the agreement Is executed:
d) Special terms of the agreement (in brief), special rights like the right to appoint directors, first right to share subscription in case of issuance of shares, right to restrict any capital structure etc.:
The Company has the right to appoint two directors and Pahang Pharma (S) Pte. Limited has right to appoint one director in the holding company. The Company shall receive royalty at a certain percentage of net-sales value as per the terms of the joint-venture contract.
e) whether the said party(ies) are related to promoter/ promoter group/ group companies in any manner? If yes, nature relationship:
No, the party is not related to the promoter/promoter group/group companies.
f) whether the transaction would fall within related party transaction(s)? If yes, whether the same is done at "arms length":
The transaction does not fall within related party transactions.
g) In case issuance of shares to the party(ies), details of the issue price, class of shares issued:
Not applicable as no shares are being issued to the party.
h) Any other disclosures related to such agreements viz. the details of the nominee on the board of directors of the listed entity, the potential conflict of interest arising out of such agreements, etc. :
There shall be no nominee of Pahang Pharma (S) Pte. Ltd. on the board of directors of the Company. The proposed term of the joint venture is 30 years with investment in holding company in the proportion of 513 by the Company and 493 by Pahang Pharma (S) Pte. Limited.