AI assistant
Allcargo Logistics Ltd — Capital/Financing Update 2024
Oct 3, 2024
61291_rns_2024-10-03_4dae5f39-0105-41c0-af74-5414b7c92941.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [124 x 70] intentionally omitted <==
October 03, 2024
To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G Dalal Street, Fort, Bandra Kurla Complex Mumbai - 400 001 Bandra (East), Mumbai - 400 051 BSE Scrip Code: 532749 NSE Symbol: ALLCARGO
Dear Sir/Madam,
Sub: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding acquisition of the additional 25% stake in ECU Worldwide (Japan) Limited by Ecuhold N.V., Wholly owned subsidiary of the Company (“WOS”)
In accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations” ) read with Part A of Schedule III of the Listing Regulations, we wish to inform you that Ecuhold N.V. has acquired additional 25% stake in ECU Worldwide (Japan) Limited for a consideration of USD $ 550,000 paid on October 01, 2024. Pursuant to the acquisition, Ecuhold N.V. now holds 90% stake in ECU Worldwide (Japan) Limited.
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 ”.
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 PARSHOTTA PARSHOTTAM MOJIDRA Date: 2024.10.03 M MOJIDRA 19:21:47 +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 [124 x 70] 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 additional acquisition of 25% stake in ECU Worldwide (Japan) Limited are mentioned below:
| Sr. **No. ** |
Particular | Details |
|---|---|---|
| a) | Name of the target entity, details in brief such as size, turnover etc. |
Pursuant to acquisition of 25% stake inECU Worldwide (Japan) Limited, Ecuhold N.V. now holds 90% stake in ECU Worldwide (Japan) Limited. The Company’s Turnover as on December 31, 2023 is JPY 41744.33 Lakhs. |
| 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; |
This is not a related party transaction. |
| c) | Industry to which the entity being acquired belongs |
Logistics - Ocean Freight Forwarding |
| 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 ofthelisted entity); |
Expansion of FCL and LCL business in an important market with a synergistic and capable partner |
| e) | Brief details of any governmental or regulatory approvals required for the acquisition; |
Transaction will be compliant with local requirements |
| f) | Indicative time period for completion of the acquisition |
Acquisition is completed on October 01, 2024 |
| g) | Nature of consideration – whether cash consideration or share swap and details of the same |
Cash |
| h) | Cost of acquisition or the price at which the shares are acquired; |
The cost of acquisition of further 25% stake is USD $ 550,000. |
| i) | percentage of shareholding / control acquired and / or number of shares acquired; |
Acquired further 25% stake of Equity Shares and Ecuhold N.V. now holds 90% in ECU Worldwide (Japan) Limited. (Ecuhold N.V. previously held 65% stake in the step down subsidiary) |
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 [124 x 70] intentionally omitted <==
- j) Brief background about the entity ECU Worldwide (Japan) Limited a FCL and acquired in terms of products/line of LCL consolidation services provider, business acquired, date of incorporation, operating in Japan. history of last 3 years turnover, country in which the acquired entity has presence It handles inbound and outbound freight to / and any other significant information (in from multiple destinations globally. brief)
Last 3 years turnover is:
2021: JPY 44674.64 Lakhs 2022: JPY 53781.15 Lakhs 2023: JPY 41744.34 Lakhs
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]