Supreme Industries announced that it has completed the exit from Kumi Supreme India, a joint venture incorporated pursuant to a joint venture agreement dated 4 April 2018 (JV Agreement) between the Company and Kumi Kasei Co., Japan (Kumi), by way of a sale of the 25,025,611 equity shares, constituting 20.67% of the share capital to a nominee of Kumi in terms of the share purchase agreement (SPA) dated 23 March, 2020 and a termination agreement (Termination Agreement), dated 31 March, 2020, with, inter alia, Kumi and KSI.
As an outcome of the exit completion, KSI ceases to be an associate of the Company.
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