Bombay Burmah Trading Corporation Limited has informed the Exchange about Incorporation of Wholly Owned Step Down Subsidiaries
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Bombay Burmah Trading Corporation has set up two new wholly-owned step-down subsidiaries in Mauritius through its existing wholly-owned subsidiary Restpoint Investments Limited. The two new entities are Associated Biscuit Investments Mauritius Limited (ABIML) and Restpoint Investments Mauritius Limited (RIML), both incorporated in December 2024 with a minimal share capital of US $1 each. ABIML's shares were then transferred to RIML, making both step-down subsidiaries of the listed company. Both are classified as investment companies and have not yet started any business operations. The structure is entirely within the group, with 100% ownership and no external counterparty involved.
This is an internal group restructuring to create overseas investment vehicles and has no immediate financial impact on shareholders. Investors should watch for future announcements if these subsidiaries are used for any major acquisitions or investments.