Lloyds Enterprises Limited, as a promoter of Lloyds Metals and Energy Limited, has entered into a Non-Disposal Undertaking (NDU) for 2,596 equity shares, representing 0.0005% of the total share capital. This undertaking is part of financing arrangements for a Rupee Term Loan Facility availed by Lloyds Metals and Energy. The legal and beneficial ownership of the shares remains with Lloyds Enterprises, and voting rights are retained, subject to the NDU terms.
Lloyds Enterprises Discloses Share Encumbrance
Lloyds Enterprises Limited has disclosed the creation of a Non-Disposal Undertaking (NDU) concerning its shareholding in Lloyds Metals and Energy Limited (LMEL). This disclosure is made in accordance with Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The NDU affects 2,596 equity shares of LMEL, which constitutes 0.0005% of the target company’s total issued share capital. The undertaking was formalized on August 25, 2026.
Details of the Non-Disposal Undertaking
The NDU has been established with SBICAP Trustee Company Limited, acting as the Security Trustee. This arrangement is intrinsically linked to a Rupee Term Loan Facility that has been availed by LMEL. Lloyds Enterprises clarified that this is a customary practice in financing transactions of this nature and quantum. The shares subject to the NDU are under contractual restrictions regarding their disposal for the duration of the applicable period, as stipulated by the financing documents.
Ownership and Rights Retained
Crucially, Lloyds Enterprises Limited emphasizes that the NDU does not involve the creation of a pledge over the shares. The company retains both the legal and beneficial ownership of these shares. Furthermore, the voting rights associated with these shares continue to be exercisable by Lloyds Enterprises, subject to the terms of the NDU and the applicable financing agreements. The entitlement to dividends and other economic benefits from these shares also remains with the company, in compliance with applicable laws and the financing documents.
Share Holding Status
There has been no transfer of these shares to any third-party demat account as a result of the NDU. The shares continue to be held in the demat account of Lloyds Enterprises Limited, notwithstanding the restrictions imposed by the NDU and related financing arrangements.
Source: BSE
