Fabtech Technologies' Subsidiary Enters Shareholders Agreement with Specialized Contracting Activities LLC
Fabtech Technologies Limited announced that its wholly owned subsidiary, Fabtech Technologies LLC, has entered into a Shareholders Agreement. This agreement involves Mr. Saleh Mousa Eidhah Al-Zahrani and Specialized Contracting Activities LLC.Specialized Contracting Activities LLC is the proposed entity being incorporated in the Kingdom of Saudi Arabia. The proposed company's industry falls under Specialized Contracting Activities, encompassing Mechanical, Electrical, Plumbing, and Civil works for Non-pharma Industries. Its business operations will focus on specialized contracting activities within the Kingdom of Saudi Arabia.
Fabtech Technologies LLC is structured as a wholly owned subsidiary of the Company, making the proposed entity a Step-Down Subsidiary. The consideration for the shares involves a 100% cash subscription to the share capital, which is subscribed at the face value per share.
The agreement specifies that Fabtech Technologies LLC will hold a 51% shareholding in Specialized Contracting Activities LLC.
Key details regarding the proposed entity and the shareholding structure are summarized below:
| Particulars | Details |
|---|---|
| Proposed Company Name | Specialized Contracting Activities LLC |
| Country of Incorporation | Kingdom of Saudi Arabia |
| Industry | Specialized Contracting Activities (Mechanical, Electrical, Plumbing, and Civil for Non-pharma Industries) |
| Nature of Consideration | 100% cash subscription to the share capital at face value per share |
| Shareholding by Fabtech Technologies LLC | 51% of the shareholding of Specialized Contracting Activities LLC |
| Incorporation Status | Incorporation is under process |
FABTECH Stock Price Movement
Shares of Fabtech Technologies Limited are edging higher to ₹152.99 as of 11:59 AM today, gaining 1.03% in live trading. The equity demonstrates strong momentum, supported by a significant trading volume of 22,782 shares throughout the ongoing session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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