Asian Energy Services Limited has informed the Exchange regarding Outcome of Board Meeting held on September 06, 2025 - Scheme of Merger by Absorption proposed to be filed under Sections 230-232 read with Section 66 of the Companies Act, 2013 for Amalgamation of Oilmax Energy Private Limited ("OEPL" or the "Transferor Company") with Asian Energy Services Limited ("AESL" or the "Transferee Company" or the "Company") and their respective Shareholders ("Scheme").
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The Board of Directors of Asian Energy Services Limited (AESL), held on September 6, 2025, approved a Scheme of Merger by Absorption. Under this scheme, Oilmax Energy Private Limited (OEPL) will be amalgamated into AESL, with AESL as the Transferee Company and OEPL as the Transferor Company. The merger will be carried out under Sections 230-232 read with Section 66 of the Companies Act, 2013, which means it will need to be filed before and approved by the National Company Law Tribunal (NCLT). No share swap ratio or other financial terms have been disclosed in this announcement. Shareholders and creditors of both companies will need to approve the scheme before it becomes effective.
If approved, this merger will bring Oilmax Energy's business fully under AESL, potentially expanding its operations and revenue base, but dilution risk for existing AESL shareholders depends on the yet-to-be-disclosed share swap ratio. The stock may see short-term volatility as further details on valuation and ratio are awaited.