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Allcargo Logistics Ltd — Capital/Financing Update 2024
Sep 5, 2024
61291_rns_2024-09-05_43d19eb9-fc34-4e1b-84a5-ad38e552bc11.pdf
Capital/Financing Update
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September 05, 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 Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the ‘Listing Regulations’)
Pursuant to Regulation 30 of the Listing Regulations, read with Part A of Schedule Ill, of the Listing Regulations, we wish to inform you that Ecu Worldwide Korea Co. Ltd., Joint Venture Company of Allcargo Logistics Limited, has incorporated a Company in the name of Allcargo ULS Terminals Co. Ltd “Allcargo ULS Terminals” on August 29, 2024. We have received the communication with respect to incorporation of Company on September 04, 2024.
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 ”.
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: 2024.09.05 M MOJIDRA 18:07:54 +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]
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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 Allcargo ULS Terminals are as mentioned below:
| Sr. **No. ** |
Particular | Details |
|---|---|---|
| a) | Name of the target entity, details in brief such as size, turnover etc. |
ECU Worldwide Korea Co. Ltd, Joint Venture of Allcargo Logistics Limited has incorporated a Company in the name of Allcargo ULS Terminals Co. Ltd on August 29, 2024. Paid up Capital: 1,900,000 Ordinary Shares of 5,000 KRW each. Size/Turnover: Not applicable (yet to commence business operations) |
| 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'slength”; |
Allcargo ULS Terminals is Joint Venture of the Company and therefore it is a related party of the Company. Promoter/ promoter group/ group companies does not have any interest in the entity. |
| c) | Industry to which the entity being acquired belongs |
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 thelisted entity); |
Allcargo ULS Terminals is newly incorporated Company with object to own and lease warehouse, acquisition of warehouse issubject to the approval of Busan (Korea) port authorities. |
| e) | Brief details of any governmental or regulatory approvals required for the acquisition; |
As mentioned clause (d) above |
| f) | Indicative time period for completion of the acquisition |
Not applicable. |
| g) | Nature of consideration – whether cash consideration or share swap and details of the same |
Cash |
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]
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| h) | Cost of acquisition or the price at which the shares are acquired; |
Initial Subscription to the new Joint Venture is 1,900,000 common stock of KRW 5,000 per share. |
|---|---|---|
| i) | percentage of shareholding / control acquired and / or number of shares acquired; |
49% |
| j) | Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief) |
Product/line of Business: Warehousing Date of Incorporation: August 29, 2024 History/Turnover – Nil Allcargo ULS Terminals is incorporated in Korea and is yet to commence its business operations. Country of incorporation: Korea |
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]