Crosslink Food and Farms Private Limited has disclosed a Non-Disposal Undertaking (NDU) dated August 25, 2026, concerning 5,56,39,683 equity shares of Lloyds Metals and Energy Limited (LMEL), representing 9.88% of the total share capital. This undertaking is part of financing arrangements for a Rupee Term Loan Facility availed by LMEL. The shares remain under contractual restrictions on disposal, though legal and beneficial ownership, along with voting rights and dividends, continue with Crosslink Food and Farms.
Promoter Disclosure of Share Encumbrance
Crosslink Food and Farms Private Limited has submitted a disclosure under Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company, acting as a promoter for Lloyds Metals and Energy Limited (LMEL), has entered into a Non-Disposal Undertaking (NDU). This agreement was executed on August 25, 2026, with SBICAP Trustee Company Limited, serving as the Security Trustee.
Details of the Non-Disposal Undertaking
The NDU pertains to a significant portion of Crosslink Food and Farms’ shareholding in LMEL, specifically 5,56,39,683 equity shares. This holding accounts for 9.88% of LMEL’s total equity share capital. The undertaking is a component of the financing arrangements connected to a Rupee Term Loan Facility that LMEL has obtained.
Shareholding Status and Rights
Under the terms of the NDU, the specified shares are subject to contractual restrictions preventing their disposal during the applicable period. Importantly, Crosslink Food and Farms clarifies that this is not a pledge of shares. The legal and beneficial ownership of these shares remains with Crosslink Food and Farms. Consequently, the voting rights attached to these shares continue to be exercisable by Crosslink Food and Farms. The company also remains entitled to dividends and other economic benefits arising from these shares, subject to applicable laws and the financing documents.
No Transfer of Demat Holdings
The disclosure explicitly states that there has been no transfer of the shares to any third-party demat account. The shares continue to be held within the demat account of Crosslink Food and Farms, with the restrictions stemming from the NDU and the related financing arrangements in place.
Source: BSE
