Lloyds Metals and Energy Limited has announced the incorporation of a wholly-owned subsidiary, Virtus Lloyds Resources FZCO (“Virtus”), in the Dubai Multi Commodities Centre Zone. Virtus is a step-down subsidiary, established by LGRF on February 17, 2026. This move is strategic, aiming for expansion in Metals and Mining investment and establishing partnerships with US-based developers, marking a significant step in the company’s international business footprint.
New Step-Down Subsidiary Incorporated in Dubai
Lloyds Metals and Energy Limited hereby discloses the establishment of a new entity, Virtus Lloyds Resources FZCO (“Virtus”). This entity was incorporated on February 17, 2026, within the Dubai Multi Commodities Centre (DMCC) Zone in the United Arab Emirates.
Virtus has been established as a wholly-owned subsidiary of Lloyds Global Resources FZCO (“LGRF”), which itself is a wholly-owned subsidiary of the Company. Consequently, Virtus will operate as a step-down subsidiary of Lloyds Metals and Energy Limited.
Acquisition Details and Consideration
The consideration for acquiring 100% of the paid-up equity share capital of Virtus involved a cash payment of AED 50,000. This amount was paid by LGRF, the intermediate holding company. As Virtus is a newly incorporated entity, financial statements and turnover data are not yet available.
Strategic Rationale
The primary objective behind establishing Virtus is the Expansion of the Company’s business of investment in Metals and Mining in Dubai. Furthermore, this structure aims to facilitate entering into strategic partnership with Metals and Minerals developers from the United States of America (USA). The industry focus of the newly acquired entity will be Investment and trading in Metals and Mining.
Status Update
It is noted that the Company, Virtus, is yet to commence business operations in the region.
Source: BSE
