Health Care Global Enters Into Partnership Agreement With Shiv-Sun
Health Care Global Enterprises Limited has executed a Limited Liability Partnership Agreement (“The Agreement”) with Shiv-Sun with respect to the relationship between the HCG and Shiv-Sun (“Partners’ or “Parties”), their rights, obligations as Partners in HCG Sun Hospitals LLP (“the LLP”) and other matters in connection therewith. Detailed information is annexed below:
1. Name of the Parties with whom the agreement is entered into:
The Agreement is entered into by the Company with Shiv-Sun, as Partners of HCG SUN Hospitals LLP.
2. Purpose of entering into the Agreement.
HCG and Shiv – Sun have entered into this Agreement to set up a hospital in Rajkot, under the LLP. The Agreement sets out the relationship between the Parties, their rights, obligations as Partners in the LLP and other matters in connection therewith.
3. Shareholding, if any, in the entity with whom the agreement is executed;
The Capital contribution of HCG and Shiv-Sun in the LLP shall be in the ratio of 74% and 26%, respectively (“Contribution Proportion”).
4. Significant 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 change in capital structure etc.;
a) HCG and Shiv-Sun have the right to nominate one Designated Partner each in the LLP.
b) A new partner (“the incoming partner”) can be inducted only with the prior written consent of all the existing partners.
c) HCG and Shiv-Sun shall always make a further capital contribution in the LLP in the Contribution Proportion.
d) HCG has the right to take decisions on all matters of the LLP, other than those specifically provided as reserved matters in the Agreement.
5. Whether the said parties are related to promoter/promoter group/group companies in any manner;
Shiv-Sun is not related to promoter/promoter group/ group companies of the Company in any manner.
6. Whether the transaction would fall within related party transactions?
The transaction would not fall within the purview of Related Party Transactions.
7. In case of issuance of shares to the parties, details of the issue price, class of shares issued;
8. Any other disclosures related to such agreements, viz., details of nominee on the board of directors of the listed entity, potential conflict of interest arising out of such agreements, etc;