GP Petroleums Enters Share Purchase Agreement with Amron Oil Resources for Joint Venture

GP Petroleums Ltd. has entered into a Share Purchase Agreement with Mr. Deepak Chander Sadarangani, Mr. Dinesh Chander Sadarangani, and Amron Oil Resources Private Limited. The agreement aims to acquire 100% stake in the Target Company, making it a Joint Venture Company (JVC). The acquisition does not fall under related party transactions and is expected to complete within 30 days. The total consideration is INR 10,000/- (Rupees Ten Thousand Only) and will be paid in cash. Amron Oil Resources Private Limited, the Target Company, was incorporated on 25.06.2004, and used to carry on business as manufacturers, processors, refiners, makers, stockiest, traders, and distributors of all types of petroleum products, petrochemical products, lubricants, oils, and such other products. However, it has been non-operative for the last 3 years.