EKI Energy Services Limited (EKIESL) has announced a further extension in its timeline to acquire an additional 50.06% equity stake in ClimaCool Projects & Edutech Limited. The company already holds 49.94% of ClimaCool’s shares, and the acquisition would make it a wholly-owned subsidiary of EKIESL.
Key Updates:
- Initial Plan: The acquisition plan was first announced on November 9, 2023.
- Extensions:
- January 4, 2024: Timeline extended to June 30, 2024.
- June 28, 2024: Timeline extended to December 31, 2024.
- January 1, 2025: Timeline further extended to February 28, 2025, due to delays in completing statutory requirements.
Next Steps:
The company confirmed the extension was approved through a circular resolution passed by the Board of Directors on January 1, 2025. Efforts are ongoing to fulfill the necessary statutory obligations for completing the acquisition.
EKI Energy Services has assured stakeholders that updates will be made available on the company’s official website, www.enkingint.org.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Always refer to official company announcements for accurate details.
