Disclosure under Regulation 30 of SEBI (LODR) Regulation, 2015- Framework Agreement executed between Company and Aegis Vopak Terminals Limited
Awaiting price reaction for this filing.
Aegis Logistics has signed a Framework Agreement with its associate company Aegis Vopak Terminals Limited (AVTL) to transfer a specialised Ammonia storage terminal located at Pipavav Port. The terminal has a static capacity of 36,000 MT and was built and developed by Aegis Logistics. Upon execution of this agreement, Aegis Logistics will receive INR 157.5 Crores from AVTL. A separate Business Transfer Agreement will be signed after the project is completed. Since AVTL is an associate of Aegis Logistics, this is classified as a related party transaction, though the company confirms it has been done on an arms-length basis.
The deal brings in INR 157.5 Cr in immediate cash inflow and allows Aegis Logistics to monetise a core logistics asset by transferring it to its listed associate AVTL. Shareholders should expect stronger cash flows in the near term, while the long-term terminal revenue shifts from Aegis Logistics to AVTL, which is a related entity.