The Company, as corporate shareholder holds 50% shares of Texol Oils FZC, (JV), which had received commercial license from hamriyah free zone Authority Sharjah under no.(24670), now intend(s) (subject to the approval from the registrar) to terminate all existing license of the company and to terminate the Joint venture agreement entered with the Joint venture partner namely ESPE Oils FZC and to close/wind-up the Joint venture Company namely Texol Oils FZC.