Symphony has informed that the transfer has been completed through execution of the relevant agreements. An aggregate consideration of AUD 7.6 million (~?52 crore) was remitted to CTPL in the current week, as under: AUD 4.3 million (~?30 crore) towards transfer of 100% stake in BUSA; and AUD 3.3 million (~?22 crore) towards transfer of the IPRs. As previously disclosed, CTPL has utilized the entire proceeds towards prepayment of working capital borrowings, reducing the outstanding borrowings to ~AUD 5.5 million (~?37 crore). As conveyed earlier, henceforth the Company does not envisage any incremental capital allocation to its Australian subsidiaries as directed by the Board of Directors in its meeting held on May 15, 2026. Any future funding, if at all required, will be restricted to regulatory requirements, if any. This disclosure is being made pursuant to Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The above information is a part of company’s filings submitted to BSE.
