Eco Hotels and Resorts Limited announced that the company has entered a Memorandum of Understanding (MOU) with Accsol Management Services Private Limited, Coimbatore, Tamil Nadu. Basis of MoU: The Company intends to expand its business in India and enhance its growth in the Indian market and the Parties are desirous to explore and develop business opportunities of mutual interest in India. The Company intends to take over 467 hotels rooms on operation, management or lease in India.

The Company intended to take over 467 hotels on operation, management or lease In India. The collaboration between the two organizations will focus on assigning of lease or operation and management contract for the relevant target properties to the Company; Accsol in following two phases: Phase 1, 5 properties with a total of 212 keys, "Acqu through lease or management contract, Phase 2, 6 properties with a total of 255 keys. To commence during fiscal 24-25, Phase 3, Other properties as mutually decided by the Parties after completion of Phase 1 and Phase 2, 3., Shareholding, if any, in the entity with whom the agreement is executed., NIL.

Significant Terms of the Agreement, The Accsol Management Services Private Limited ("AMSPL") shall assign the lease or operation and management for the relevant target properties to The Company; Company shall issue and allot shares to the (AMSPL) as consideration for the assignment /transfer of lease, operation and management contracts of the target properties based on separate valuation to be conducted on each target property as consideration for the assignment. The number and price of shares of the Company to be issued and allotted to the (AMSPL") will be calculated under applicable Law in India, 5, Whether, the said parties are related to promoter/promoter group/group companies in any manner, if yes, nature of relationship., No., 6., Whether the transaction would fall with related party transaction? If yes, whether, No., the same is done at "arms length"., Any other disclosure related to such agreement viz.

details of nominee on the board of directors of the listed entity, potential conflict of interest arising out of such agreement, etc, In case of termination or amendment of agreement, listed entity shall disclose additional details to the stock exchange(s). A name of parties to the agreement B) Nature of agreement C) Date of execution of agreement D) Details of amendment and impact thereof or reasons of termination and impact thereof.