Sellwin Traders Ltd Enters MOU with Rs. 250 crore Subhshri Overseas Ltd for Strategic Association via Share Swap Arrangement

Sellwin Traders Ltd, a Kolkata based company, has entered into a Memorandum of Understanding (MOU) with Mumbai based Rs. 250 crore group, Subhshri Overseas Ltd, to form a strategic association. The collaboration aims to establish a Holding company (Sellwin Traders) - Subsidiary company (Subhshri Overseas Ltd) relationship via a share swap arrangement. The MOU is non-binding and does not create any legal obligations except for confidentiality and commitment to good faith negotiations. The share swap ratio and valuation will be determined by a mutually agreed upon third-party valuation expert based on business prospects. Both companies will ensure necessary legal and regulatory approvals, and post-transaction, the Holding company will have the right to appoint at least one director to the board of the Subsidiary Company. The Subsidiary Company will have the right to appoint 2 Directors (one as regular director and one as independent director) of directors to the board of the Holding Company. The Holding Company shall not have operational control over the Subsidiary Company, and both parties agree to maintain strict confidentiality.