AI assistant
Allcargo Logistics Ltd — Capital/Financing Update 2023
Dec 18, 2023
61291_rns_2023-12-18_275ea5fd-aba8-477e-8302-8b009820b677.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [116 x 66] intentionally omitted <==
December 18, 2023
To,
| BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai-400 001 BSE Scrip Code:532749 |
National Stock Exchange of India Limited Exchange Plaza, C-1, Block G Bandra Kurla Complex Bandra (East), Mumbai - 400 051 NSE Symbol:ALLCARGO |
|
|---|---|---|
Dear Sir/ Madam,
Sub: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”), read with Part A of Schedule III of the Listing Regulations, this is to inform you that the Company’s Wholly Owned Step Down Subsidiary viz, ECU Hold N.V. (“Entity 1”) and Antwerp Freight Station NV (“Entity 2”) has acquired stake in Eurocenter FZCO (“Target Entity 1”) and ECU Line Middle East (LLC) (“Target Entity 2”). The Company has received the necessary information today.
The details as required under Regulation 30 of the Listing Regulations and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, is attached as “ Annexure-A ” for Target Entity 1 and “ Annexure-B ” for Target Entity 2.
The aforesaid information shall be made available on the Company's website at www.allcargologistics.com.
Kindly take the above on record.
Thanking you,
Yours faithfully, For Allcargo Logistics Limited
DEVANAND Digitally signed by DEVANAND PARSHOTTAM PARSHOTTAM MOJIDRA Date: 2023.12.18 15:58:46 MOJIDRA +05'30' Devanand Mojidra Company Secretary & Compliance Officer
Membership No.: A14644
Encl: a/a
ALLCARGO LOGISTICS LIMITED
Allcargo House, 6[th] Floor, CST Road, Kalina, Santacruz (E), Mumbai - 400 098. Maharashtra. India. T: +91 22 6679 8110 | www.allcargologistics.com | CIN: L63010MH2004PLC073508 | GSTN: 27AACCA2894D1ZS e-mail id: [email protected]
==> picture [116 x 66] intentionally omitted <==
Annexure - A
Disclosures pursuant to Regulation 30 of the Listing Regulations and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023
The details of acquisition of 14% stake in Eurocenter FZCO are mentioned below:
| Sr. No. |
Particular | Details |
|---|---|---|
| a) | Name of the target entity, details in brief such as size, turnover etc. |
Eurocenter FZCO (“Target Entity 1”) with a Turnover of AED 11,703,479 as on December 31, 2022. |
| 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 a related party transaction. |
| c) | Industry to which the entity being acquired belongs |
The Target Entity 1 is engaged in business of Warehousing. |
| d) | Objects and impact 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); |
The said acquisition of Target Entity 1 would result in increase in business of the company in UAE. |
| e) | Brief details of any governmental or regulatory approvals required for the acquisition; |
Not Applicable. |
| f) | Indicative time period for completion of the acquisition |
Completed on December 7, 2023. |
| g) | Consideration - whether cash consideration or share swap or any other form and details of the same |
Cash. |
| h) | Cost of acquisition or the price at which the shares are acquired; |
AED 60,19,608 for 14% stake acquired by Entity 1 and Entity 2. |
| i) |
Percentage of shareholding / control acquired and / or number of shares acquired; |
Post acquisition shareholding ofTarget Entity 1: ECU Hold N.V holds 92.30 % stake. Antwerp Freight Station NV holds 7.70% stake. |
ALLCARGO LOGISTICS LIMITED
Allcargo House, 6[th] Floor, CST Road, Kalina, Santacruz (E), Mumbai - 400 098. Maharashtra. India. T: +91 22 6679 8110 | www.allcargologistics.com | CIN: L63010MH2004PLC073508 | GSTN: 27AACCA2894D1ZS e-mail id: [email protected]
==> picture [116 x 66] intentionally omitted <==
-
j) Brief background about the entity Line of Business: Target Entity 1 is acquired in terms of products/line of into the warehousing business in business acquired, date of incorporation, UAE. history of last 3 years turnover, country in Date of Incorporation: January 01, which the acquired entity has presence 2004 and any other significant information (in History of last 3 years turnover: brief)
-
Date of Incorporation: January 01, 2004
| Year | Turnover in AED |
|---|---|
| 2020 | 7,363,904 |
| 2021 | 9,221,496 |
| 2022 | 11,703,479 |
- Country in which the acquired entity has presence: Target Entity 1 is operating in Jebel Ali Free Zone, Dubai, United Arab Emirates.
ALLCARGO LOGISTICS LIMITED
Allcargo House, 6[th] Floor, CST Road, Kalina, Santacruz (E), Mumbai - 400 098. Maharashtra. India. T: +91 22 6679 8110 | www.allcargologistics.com | CIN: L63010MH2004PLC073508 | GSTN: 27AACCA2894D1ZS e-mail id: [email protected]
==> picture [116 x 66] intentionally omitted <==
Annexure - B
Disclosures pursuant to Regulation 30 of the Listing Regulations and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023
The details of acquisition of 51% stake in ECU Line Middle East (LLC), is mentioned below:
| Sr. No. |
Particular | Details |
|---|---|---|
| k) | Name of the target entity, details in brief such as size, turnover etc. |
ECU Line Middle East (LLC)with a Turnover of Rs. 53,162 Lakhs as on November 30, 2023. |
| l) |
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 a related party transaction. |
| m) | Industry to which the entity being acquired belongs |
The Target Entity 2 is engaged in business of Freight Forwarding. |
| n) | Objects and impact 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); |
The said acquisition of Target Entity 2 would result in increase in business of the company inFreight Forwarding. |
| o) | Brief details of any governmental or regulatory approvals required for the acquisition; |
Not Applicable. |
| p) | Indicative time period for completion of the acquisition |
Completed on December 12, 2023. |
| q) | Consideration - whether cash consideration or share swap or any other form and details of the same |
Cash. |
| r) | Cost of acquisition or the price at which the shares are acquired; |
AED 64,80,000 for 51% stake acquired by Entity 1 and Entity 2. |
| s) | Percentage of shareholding / control acquired and / or number of shares acquired; |
Post acquisition shareholding ofECU Line Middle East (LLC): ECU Hold N.V holds 99 % stake. Antwerp Freight Station NV holds 1% stake. |
ALLCARGO LOGISTICS LIMITED
Allcargo House, 6[th] Floor, CST Road, Kalina, Santacruz (E), Mumbai - 400 098. Maharashtra. India. T: +91 22 6679 8110 | www.allcargologistics.com | CIN: L63010MH2004PLC073508 | GSTN: 27AACCA2894D1ZS e-mail id: [email protected]
==> picture [116 x 66] intentionally omitted <==
- t) Brief background about the entity Line of Business: Target Entity 2 is acquired in terms of products/line of into the freight forwarding business business acquired, date of incorporation, Date of Incorporation: August 2, 1997 history of last 3 years turnover, country in History of last 3 years turnover: which the acquired entity has presence and any other significant information (in Year Turnover brief) in INR Lakhs
| Year | Turnover in INR Lakhs |
|---|---|
| 2023 | 53,162 |
| 2022 | 34,146 |
| 2021 | 18,528 |
- Country in which the acquired entity has presence: Target Entity 2 is operating in Dubai, United Arab Emirates
ALLCARGO LOGISTICS LIMITED
Allcargo House, 6[th] Floor, CST Road, Kalina, Santacruz (E), Mumbai - 400 098. Maharashtra. India. T: +91 22 6679 8110 | www.allcargologistics.com | CIN: L63010MH2004PLC073508 | GSTN: 27AACCA2894D1ZS e-mail id: [email protected]