Advanced Enzyme Technologies Limited — Capital/Financing Update 2024

Dec 5, 2024

December 05, 2024

BSE Limited

P. J. Towers, Dalal Street, Mumbai- 400 001 Scrip Code-540025

National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (E) Mumbai- 400 051 Trading Symbol-ADVENZYMES

Dear Sir/Madam,

Sub: Intimation - Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ref: ISIN: INE837H01020

The Board of Directors of Advanced Enzymes USA (“ AEU ”), a wholly owned subsidiary of the Company has accorded its approval for formation of a new corporation in California (US) to be named as Starya Labs, Inc (“Starya Labs”). Cal-India Foods International USA, a step-down wholly owned subsidiary of the Company (“SEB”) to spin-off and transfer its enzyme/probiotic laboratory testing services (“ SEB Lab ”) together with certain assets and liabilities related to the said SEB Lab into Starya Labs. The said new corporation, Starya Labs will be a wholly owned subsidiary of AEU.

With reference to the Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the SEBI circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, the details are provided in the Annexure to this letter.

This is for your information and for public at large.

Thanking you, Yours faithfully, For Advanced Enzyme Technologies Limited

SANJAY Digitally signed by PRAKASH SANJAY PRAKASH BASANTA BASANTANI Date: 2024.12.05 NI 11:39:53 +05'30' Sanjay Basantani Company Secretary and Head – Legal Encl.: As above

Encl.: Annexure:

Sr. No.	Particulars	Status / Remarks
a)	Name of the target entity, details in brief such as size, turnover etc.	Advanced Enzymes USA (“AEU”) is a wholly owned subsidiary of Advanced Enzyme Technologies Limited (“Company”). Cal-India Foods International, USA[“SEB”]is a step-down wholly owned subsidiary of the Company and a direct wholly owned subsidiary of AEU. The Board of Directors of AEU has approved to form a new corporation in California (US) to be named Starya Labs, Inc., which will be a wholly owned subsidiary of AEU. In view of this, Starya Labs will be a step down wholly owned subsidiary of the Company. SEB to spin-off/ transfer its enzyme/probiotic laboratory testing services (“SEB Lab”) together with certain assets and liabilities related to the said SEB Lab into Starya Labs. The aggregate value of the assets including any liabilities, contracts, intellectual property and personnel to be transferred by SEB to Starya Labs, shall not exceed US $500,000 Size/Turnover of new entity: Not Applicable as of now as mentioned above.
b)	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”	Not Applicable. New entity will be a wholly owned subsidiary of AEU and accordingly will be a step-down wholly owned subsidiary of the Company. Except as mentioned above, the promoter/promoter group does not have the interest in the new entity.
c)	Industry to which the entity being acquired belongs	Laboratory testing services (Enzyme/probiotic product testing)

	d)	Objects and effects	of acquisition	Formation of a separate independent corporate
		(including but not	limited to,	(laboratory) as	mentioned above, which is
		disclosure of reasons	for acquisition	intended to	carry	out Enzyme/Probiotic
		of target entity, if its business is		product testing.
		outside the main line	of business of
		the listed entity)
	e)	Brief details of any governmental or		The Board of AEU has		approved to create a new
		regulatory approvals required for the		corporation in	California (US) and hence
		acquisition		approvals of	the	authorities including
				California, Secretary		of State, as may be
				applicable will be required.
	f)	Indicative time	period for	March 31, 2025 (tentative time period)
		completion of the acquisition
	g)	Nature of consideration – whether		Cash consideration
		cash consideration or share swap and
		details of the same

h) Cost of acquisition or the price at The aggregate value of the assets to be which the shares will be acquired transferred by SEB to Starya Labs, including any liabilities, contracts, intellectual property, and personnel, shall not exceed US $500,000 i) Percentage of shareholding / control New entity will be a wholly owned subsidiary acquired and / or number of shares of AEU and accordingly will be a step-down acquired wholly owned subsidiary of the Company.

j)	Brief background about the entity	As mentioned above.
	acquired in terms of products/line of
	business acquired, date of	Product/line of Business - Laboratory Testing
	incorporation, history of last 3 years	Services for Enzymes/Probiotics.
	turnover, country in which the
	acquired entity has presence and any	Date of Incorporation/history of last three years
	other significant information (in	turnover: NA
	brief);

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