This is to inform you that the process for disinvestment in Jordan Renewable Aluminium Fluoride Manufacturing Company P.S.C., a step down subsidiary company in the Hashemite Kingdom of ....
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Alufluoride Ltd has completed the sale of its step-down subsidiary, Jordanian Renewable Aluminium Fluoride Manufacturing Company P.S.C., based in Jordan. The step-down subsidiary was held through Alufluoride International Pte. Ltd., Singapore. The sale agreement was signed on 23rd December 2024, and the sale consideration of JOD 1 (equivalent to USD 1.41) was received on 9th May 2025. The buyer is Jordan India Fertilizer Company LLC, which is not part of the promoter group and the transaction is not a related party deal. Importantly, the subsidiary had not commenced any business operations and contributed nothing to the company's turnover, revenue, or net worth in the last financial year.
This is a minor, non-material divestment since the subsidiary was non-operational and the sale consideration is negligible (just USD 1.41). Shareholders should not expect any meaningful financial impact from this transaction, as it essentially winds up a dormant overseas entity.