Execution of MOU
Price
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Pro CLB Global has signed a non-binding Memorandum of Understanding with Myzek Logistics Private Limited, which operates the last-mile delivery brand 'Dropon', to enter the logistics business through a strategic association and investment. As a first step, Pro CLB plans to acquire a 20% stake in Myzek through a mix of share swap and/or cash investment, based on an independent valuation. Pro CLB may invest up to ₹3 crore in tranches — starting with ₹75 lakh within one month, another ₹75 lakh after that, and the balance based on Myzek's performance. Pro CLB will also get a minimum assured return of 6.50% per annum or a profit share (whichever is higher), with the invested amount refundable within 36 months or convertible into equity. Both companies will have board representation rights, and the agreement leaves room for forming a holding–subsidiary structure or a joint venture later, subject to future definitive agreements.
This is still a preliminary, non-binding MOU — no shares or cash have changed hands yet. If the deal moves ahead, it would mark Pro CLB's entry into the fast-growing logistics and last-mile delivery space via the 'Dropon' brand, diversifying its business. Shareholders should watch for the definitive agreement and valuation outcome, as the actual stake and investment terms will only be locked in then.