This is to inform that as a part of internal restructuring of overseas business operations of the Company the Board of Directors of the Company have at its Meeting held today approved the proposal for transfer of overseas branch offices of the Company at Dubai Abu Dhabi Sharjah in the United Arab Emirates (UAE) Doha in Qatar Bahrain andSingapore to Universal MEP Projects Pte. Limited (UMPPL) Singapore a wholly-owned subsidiary of Voltas Netherlands B.V. which is a direct 100% wholly-owned subsidiary ofVoltas Limited. The transfer would be on slump sale basis through execution of Business Transfer Agreement (BTA) for each branch separately subject to satisfactory completionof conditions precedent including novation of existing contracts of Voltas in favour of UMPPL by the Main Contractors/Clients and such other compliances or procedures necessary or applicable in the respective local jurisdictions.
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