Thejo Engineering Limited has provided clarification on the acquisition of shares in Thejo Australia Pty Ltd, stating that the acquisition is not a related party transaction and the promoter group does not have any interest in the entity being acquired. The entity being acquired belongs to the conveyor splicing industry. The objective of the acquisition is to purchase the stake held by Bridgestone Mining Solutions Australia Pty Ltd and have Thejo Australia Pty Ltd become a wholly-owned subsidiary of the company. The acquisition does not require any governmental or regulatory approvals. The indicative time period for completion is before 31st March 2025. The shares were acquired at a price of AUD 1.66 per share, and the consideration was in cash. The entity acquired, TAPL, is an overseas subsidiary of Thejo Engineering Limited, involved in belt splicing and related activities. The turnover of TAPL in the last three years was AUD 21.57 million, AUD 22.07 million, and AUD 19.38 million. The company now holds an 80% stake in TAPL, while BMSA holds 20%.