Ace Integrated Solutions Limited — Capital/Financing Update 2023

Jul 13, 2023

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ACE INTEGRATED SOLUTIONS LIMITED

Regd. Office: B-13, DSIDC Complex, Functional Industrial Estate, Industrial Area Patparganj, New Delhi-110092, Email- md@aceintegrated.com, cs@aceintegrated.com Phone No. 011-49537949, Website- www.aceintegrated.com CIN: L74140DL1997PLC088373

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Ref.-ACE/STX/2023-24/24

Date: 13.07.2023

To

The Manager (Listing Department) National Stock Exchange of India Limited (NSE) Exchange Plaza, Bandra Kurla Complex Bandra (East), Mumbai-400051

Company Symbol: ACEINTEG ISIN: INE543V01017

Subject: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on proposed formation of Wholly Owned Subsidiary.

Dear Sir/Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform that the Board of Directors at their meeting held on July 12, 2023 commenced at 11:40 AM and concluded at 12:50 PM, approved incorporation of a Wholly Owned Subsidiary (WOS) of the Company.

The details as required under regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR / CFD / CMD / 4 / 2015 dated 9[th] September, 2015 is enclosed as Annexure-1 .

You are requested to kindly take the above information on your records.

For ACE INTEGRATED SOLUTIONS LIMITED

Digitally signed by CHANDRA CHANDRA SHEKHAR VERMA SHEKHAR VERMA Date: 2023.07.13 08:18:16 +05'30'

CHANDRA SHEKHAR VERMA (Managing Director) DIN: 01089951

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ACE INTEGRATED SOLUTIONS LIMITED

Regd. Office: B-13, DSIDC Complex, Functional Industrial Estate, Industrial Area Patparganj, New Delhi-110092, Email- md@aceintegrated.com, cs@aceintegrated.com Phone No. 011-49537949, Website- www.aceintegrated.com CIN: L74140DL1997PLC088373

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Annexure- 1

SI.No.	Particulars	Details
1.	Name of the target entity, details in brief as size, turnover etc.	Proposed Name is Ace Prometric Solutions Private Limited or such other name with ‘ACE’ mark as ‘prefix’, which will be approved by Ministry of Corporate Affairs (MCA) Proposed Authorized Capital: Rs. 5,00,000/- (Rupees Five Lakhs Only)
2.	Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at "arm's length"	The Company is proposing to form a Wholly Owned Subsidiary (WOS) and the entity after incorporation, shall be a related party of the Company. One of Director of the Company is interested in the formation of WOS to the extent of their shareholding in the Company.
3.	Industry to which the entity being acquired belongs	Service Industry
4.	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)	Not applicable
5.	Brief details of any governmental or regulatory approval for the required acquisition	Incorporation of the entity is subject to the approval of the MCA and such other statutoryauthorities.
6.	Indicative time period for completion of the acquisition	Entity shall be incorporated on receipt of requisite approvals from various statutory authorities.
7.	Nature of consideration whether cash consideration or share swap and details of the same	Securities shall be subscribed for cash.
8.	Actual Cost of acquisition or the price at which the shares are acquired (subscription amount)	Securities of the proposed Wholly Owned Subsidiary Company will be acquired at Rs. 1,00,000 (Rupees One Lakh only) which is divided into 10,000 (Ten Thousand only) no. of equity shares ofRs.10 (Rupees Ten) each(face value).
9.	Percentage of shareholding / control acquired and/or number of shares acquired	100% shareholding
10.	Brief background about the entity acquired in terms ofproducts/line of business	Not applicable as the entity is yet to be incorporated.

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ACE INTEGRATED SOLUTIONS LIMITED

Regd. Office: B-13, DSIDC Complex, Functional Industrial Estate, Industrial Area Patparganj, New Delhi-110092, Email- md@aceintegrated.com, cs@aceintegrated.com Phone No. 011-49537949, Website- www.aceintegrated.com CIN: L74140DL1997PLC088373

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acquired, date of incorporation, history of last 3-year turnover, country in which the acquired entity has presence and any other significant information in brie