Sadbhav Engineering Ltd has informed BSE that the Company has entered into an agreement

1. To acquire 74% stake in Ocean Bright Corporation Ltd a Company incorporated in Hong Kong through its 100% subsidiary- Sadbhav Natural Resources Pvt. Ltd.

2. Ocean Bright Corporation Ltd has directly and through its subsidiaries holds 100% stake in the following prospecting rights and prospecting licenses in Mozambique:

i. License for prospecting of iron ore and copper in 24,400 Hectares of land in Tete Province of Mozambique;

ii. License for prospecting of lime stone in 24,740 Hectares of land in Nampula Province of Mozambique;

iii. Right for prospecting of minerals for coal in 5320 Hectares of land in Manica Province of Mozambique; and

iv. Application made for prospecting rights of coal in 24480 Hectares of land in Niassa Province which is under consideration of the Government of Mozambique. If approved, the Company will be awarded prospecting license.