History of Elbee Services Ltd.

YEAR EVENTS 1981 - The Comp. was incorporated as a private limited Comp. under the Companies Act, 1956 on 17th June, under the name of 'Elbee Services Private Limited'.

1990 - The Comp. became a deemed Public Limited Comp. u/s 43A of the Companies Act, 1956 with effect from 1st July, & the word 'Private' was deleted in the certificate of incorporation.

1992 - The Comp. became a full fledged Public Limited Comp. by passing a special resolution on 30th April by adopting a new set of Articles of Association. Hereinafter referred to as 'Elbee' or 'the Company'.

1994 - The Comp. proposes to construct, on a plot of land acquired on perpetual lease at a prime location i.e. next to the domestic airport in Mumbai, a state-of-the-art HUB.

- The Comp. set up a Central Pickup Unit in Mumbai which enables the Comp. to provide a guaranteed one hour pick up its clients located anywhere in Mumbai.

- The Comp. signed a Memorandum of Understanding with the Indian Railways to lease out cargo space on express passenger trains on a daily basis.

- The Comp. has alloted, 1,00,000 - 12% Unsecured Non-Convertible Debentures [NCDs] of Rs. 100/- each aggregating to Rs. 100 lacs with ten detachable Warrants attached to each such NCD to the core promoters, on 30th May.

1995 - The public issue of 1,700,000 equity shares of Rs. 10/- each for cash at a premium of Rs. 130/- per share aggregating to Rs. 2380 lacs received an overwhelming response from the public.

1996 - The Comp. has entered into a Joint Venture agreement with CSLB Aviation Holdings [Mauritiuss] Limited [CSLBs].

1997 - The Comp. proposes to set up a new joint venture Comp. in collaboration with United Parcel Service [UPSs] or any of its affiliates to undertake a business pertaining to international integrated transportation [of parcel & packagess] services.

- The setting up of new joint venture Comp. in collaboration with UPS is likely to provide a boost/competitive edge to the Comp. in respect of aforesaid business.

- Elbee Express Services, one of leading courier companies in the country, is likely to sign a joint venture agreement with global courier major United Parcel Service [UPSs] of US.

1998 - Elbee Services proposed 50:50 joint venture, United Parcel Services [UPSs], is expected to be operational by April.

1999 - Courier major Elbee Services & Emery Worldwide [Indias] have signed a memorandum of understanding [MoUs] for a strategic alliance to provide global customers a single-window intergrated logistics solutions in India.

- Elbee is proposing to form five wholly owned subsidiaries to set up intra-city operations in Mumbai, New Delhi, Calcutta, Chennai & Bangalore.

2000 - Mumbai-based courier major Elbee Services [ESLs] has tied up with the leading Comp. in south India The Franch Express [TFEs].

- Elbee Services Limited has signed an agreement with the financial major ICICI Limited to provide logistic support through e-commerce.

- The Comp. has launched elbeenet.com which will provide logistics solutions to portals.

- The Comp. has proposal of issue of equity shares/PCDs/FCDs on private placement basis to FIIs, MFs, OCBs, Corporate Bodies and other strategic investors, Maximum shares arising out of this issue/conversion not to exceed 85,00,000 shares in numbers.

- The Comp. has signed an agreement with TNT India which will enable the courier giant to access TNT global network.

- The Comp. has successfully completed the first tranche of preferential private placement of equity share worth Rs 37 crore with ICICI, UTI & Tata Finance at a price of Rs 171 per share.

- The Comp. has tied up with YV Palande Consultants, a regional courier service provider in Maharashtra.

- The Comp. has entered into a strategic alliance with BAX Global India, part of US-based conglomerate Pittston Company, to jointly provide logistics services.

- Elbee Services Ltd has entered into a memorandum of understanding with DHL Worldwide Express, a division of AFL Ltd.