Disclosure under Regulation 30 of SEBI ( Listing Obligation and Disclosure Requirement) Regulations, 2015.
SOUTHWEST · price
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South West Pinnacle Exploration Ltd (SWPE) has executed a Shareholders' Agreement dated May 29, 2026, with three partners for their joint venture Al Hadeetha Mining LLC (AHML) in Oman. SWPE holds 17.5% equity in AHML, which has been allocated Block 22B for mining activities under a concession agreement with Oman's Ministry of Energy and Minerals. The agreement grants SWPE special rights including right to appoint directors, first right to share subscription, and restrictions on capital structure changes. The transaction qualifies as a related party transaction as Alara (one of the partners) is a subsidiary of Alara Resources Ltd where SWPE and its promoters hold stake, and CMD Vikas Jain serves as director. SWPE clarified the transaction is at arm's length and does not impact management or control of the listed entity.
The agreement establishes governance framework for the Oman mining JV while preserving SWPE's existing 17.5% stake. The related party disclosure and arm's length confirmation provide transparency, but the transaction does not materially alter SWPE's operations or control.