Joint Venture3 Jun 2025, 12:49 pm
Vardhman Special Steels: Promoter Group and Aichi Steel Corporation Enter Shareholders Agreement
AI Summary
Vardhman Special Steels Ltd. announced that its Promoter and Promoter Group have entered into a Shareholders Agreement (SHA) with Aichi Steel Corporation (ASC), an existing shareholder of the company. The SHA defines the mutual rights, obligations, and relationship between the Promoters and ASC as shareholders of the company. The agreement was executed on 02 June, 2025, following ASC's additional investment in Vardhman Special Steels, increasing its shareholding from 11.33% to 24.90%.
Key Highlights
- Shareholders Agreement between Promoter & Promoter Group and Aichi Steel Corporation
- ASC's shareholding increased from 11.33% to 24.90%
- Restrictions on share transfer to competitors
- Non-compete and non-solicit obligations for Promoters and ASC
- Indemnification obligations in case of breach of representations and warranties