BANGALORE, India, September 2, 2016 /PRNewswire/ --
TO ALL STOCK EXCHANGES
BSE LIMITED
NATIONAL STOCK EXCHANGE OF INDIA LIMITED
NEW YORK STOCK EXCHANGE
EURONEXT LONDON
EURONEXT PARIS
September 2, 2016
Dear Sir/Madam,
Sub: Joint Venture Agreement
We would like to intimate that the Company has entered in to a Joint venture agreement with Saudi Prerogative
Company ('SPC'), in the Kingdom of Saudi Arabia to conduct IT services for customers located in the Kingdom of
Saudi Arabia. The Joint venture will be in the ratio of 70:30 (Infosys: SPC) and the agreement is subject to the
approval of Saudi Arabian General Investment Authority ('SAGIA').
Disclosure under SEBI Listing Regulations -
Name(s) of parties with whom the agreement is Saudi Prerogative Company
entered
Purpose of entering into the agreement Infosys Limited and SPC to form a joint
venture in the Kingdom of Saudi Arabia
to conduct IT services for
customers in the Kingdom of Saudi
Arabia.
Shareholding, if any, in the entity with whom No Shareholding in SPC.
the agreement is executed
Significant terms of the agreement (in brief) All rights such as Board of Directors,
special rights like right to appoint transfer restrictions,information rights
directors, first right to share subscription as information rights etc as customary
in case of issuance of shares, right to in customary in similar transactions.
restrict any change in capital structure etc.
Whether, the said parties are related to No
promoter/promoter group/ group companies in
any manner. If yes, nature of relationship
Whether the transaction would fall within No
related party transactions? If yes, whether
the same is done at "arm's length";
In case of issuance of shares to the parties, There is no issuance of Company Shares.
details of issue price, class of shares However, the investment in the Joint
issued; venture will be in cash of US $ 312,671
(SAR 1,172,501) in the equity share
capital of the proposed joint venture
company.
Any other disclosures related to such Nil
agreements, viz., details of nominee on the
board of directors of the listed entity,
potential conflict of interest arising out
of such agreements, etc.
In case of termination or amendment of Not Applicable
agreement, listed entity shall disclose
additional details to the stock
exchange(s):
a) name of parties to the agreement;
b) nature of the agreement;
c) date of execution of the agreement;
d) details of amendment and impact thereof or
reasons of termination and impact thereof.
This is for your information and records.
Yours sincerely,
For Infosys Limited
AGS Manikantha
Company Secretary
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