DEFINITION OF ASSOCIATED COMPANIES OR

UNDERTAKINGS
1ST POINT
MR. ZEE

OWNER OWNER OWNER

OR OR
OR

PARTNER PARTNER PARTNER

OR OR
OR

DIRECTOR DIRECTOR DIRECTOR

OR OR
OR

20 % shares 20 % shares 20 % shares

PQR (LTD) XYZ (LTD)

ABC (LTD)
COMPANY COMPANY
COMPANY

ASSOCIATED COMPANIES
 2ND POINT; COMMON
MANAGEMENT & CONTROL

MODARBA
COMPANY

ABC (LTD) XYZ (LTD)

ASSOCIATED COMPANIES
MODARBA-1 MODARBA-2
2ND POINT; SUBSIDIARY OF
THE OTHER

HOLDING
COMPANY AS
N IES SO
PA CI
M AT
ED
CO CO
T ED M
C IA PA
SSO NI
A ES

ABC (LTD) XYZ (LTD)

ASSOCIATED COMPANIES
SUBSIDIARY-1 SUBSIDIARY-2
3RD POINT- IN CASE OF
MODARBA MANAGED BY
MODARBA
THE COMPANY COMPANY

XYZ (LTD)
ABC (LTD)
MODARBA-2
MODARBA-1 MR.CHARLIE
MR. ALPHA
OWNER
OWNER
OR
OR ALL 4 ASSOCIATED
ASSOCIATED
ASSOCIATED PARTNER
PARTNER
OR
PERSONS OR

DIRECTOR
DIRECTOR
OR
OR
MR. BRAVO MR. DELTA 10 % shares
10 % shares
FOUR EXCEPTIONS
 ASSOCIATED COMPANIES AND UNDERTAKINGS (4 EXCEPTIONS)

1ST EXCEPTION

MR. ZEE

NO G
DI INA T
RE TE
M OV
OR

CT D B
CT

OR Y
RE
DI

ABC XYZ
COMPANY COMPANY
NOT ASSOCIATED !
 ASSOCIATED COMPANIES AND UNDERTAKINGS (4 EXCEPTIONS)

2ND EXCEPTION

SAMIA

IN DIRE
DE C
OR

PE TO
CT

ND R
RE

EN
DI

T
ABC XYZ
COMPANY COMPANY
NOT ASSOCIATED !
 ASSOCIATED COMPANIES AND UNDERTAKINGS (4 EXCEPTIONS)

3RD EXCEPTION

NATIONAL INESTMENT TRUST (NIT)

HO SH
ES 5%

LD ARE
AR 2

IN S
SH ING

G
LD

30
HO

%
ABC XYZ
COMPANY NOT ASSOCIATED COMPANY
 ASSOCIATED COMPANIES AND UNDERTAKINGS (4 EXCEPTIONS)

4TH EXCEPTION

CENTRAL DEPOSITORY COMPANY (CDC)

ES

30
A R

%
SH

SH
%
25

AR
ES
ABC XYZ
COMPANY
NOT ASSOCIATED COMPANY