Aegis Logistics (Company), Vopak India B.V. (Vopak) and the
Company's wholly owned subsidiary Aegis LPG Logistics (Pipavav) (ALLPL)
have entered into a Share Subscription Agreement wherein ALLPL is desirous of issuing to Vopak, and Vopak, has agreed to subscribe to, the subscription shares, on the terms and subject to the conditions contained in the Share Subscription Agreement, such that upon completion of the subscription to shares pursuant to the said agreements, the Company shall hold the legal and beneficial ownership to 51% of the share capital of ALLPL and Vopak shall hold the legal and beneficial ownership to 49% of the share capital of ALLPL.
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