Tembo Global Industries Limited - Reply to Clarification Sought

17 Feb 2022 , 12:00 AM

Tembo Global Industries Limited with respect to announcement dated 11-Feb-2022, regarding giving guarantee for the corporate loan proposed to be taken by the sister concern Saketh Seven Star Industries Limited. On basis of above the Company was required to clarify following: 1. Whether the promoter/ promoter group/ group companies have any interest in this transaction? If yes, nature of interest and details thereof and whether the same is done at arms length; 2. Brief details of such guarantee or indemnity or becoming a surety viz. brief details of agreement entered (if any) including significant terms and conditions, including amount of guarantee; 3. Impact of such guarantees or indemnity or surety on listed entity. The response of the Company is attached.