Investment7 Aug 2025, 05:38 pm
Tinna Rubber and Infrastructure Infuses Additional $204,815 in South African Joint Venture, Mbodla Investments
AI Summary
Tinna Rubber and Infrastructure Ltd. has remitted an additional US$ 2,04,815 (equivalent to Rs. 1,80,06,311) to Mbodla Investments (Pty) Ltd., a joint venture in South Africa. This infusion is for the acquisition of 35,86,310 ordinary shares @ Rand 1 each, bringing the Company's total stake to 49%. The objective of this acquisition is the expansion and management of a tyre recycling venture in South Africa and/or manufacturing and export of used tyres/crumb rubber and other allied products. Mbodla Investments (Pty) Ltd. was incorporated in February 2015 in South Africa and has a line of business similar to the acquisition object. The current investment stands at 35,86,310 ordinary shares @ Rand 1 each.
Key Highlights
- Tinna Rubber and Infrastructure Ltd. has infused an additional US$ 2,04,815 in Mbodla Investments (Pty) Ltd., a South African joint venture.
- The investment is for the acquisition of 35,86,310 ordinary shares @ Rand 1 each, bringing the Company's total stake to 49%.
- The objective of this acquisition is the expansion and management of a tyre recycling venture in South Africa and/or manufacturing and export of used tyres/crumb rubber and other allied products.
- Mbodla Investments (Pty) Ltd. was incorporated in February 2015 in South Africa and has a line of business similar to the acquisition object.
- The current investment stands at 35,86,310 ordinary shares @ Rand 1 each.