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Allcargo Logistics Ltd — Capital/Financing Update 2024
May 22, 2024
61291_rns_2024-05-22_fb0141ef-3afc-4a22-8bba-2afcf1d229f8.pdf
Capital/Financing Update
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May 22, 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 update on the acquisition of balance 25% stake in Fair Trade GmbH Schiffahrt, Handel und Logistik (“Fair Trade”) by ECU Worldwide N.V. (Formerly known as Allcargo Belgium N.V.), Wholly owned subsidiary of the Company (“WOS”)
In furtherance of our disclosure dated November 24, 2022, in respect of acquisition of 75% stake in Fair Trade by ECU Worldwide N.V. (Formerly known as Allcargo Beligum N.V.) (WOS of Allcargo Logistics Limited) and 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 ECU Worldwide N.V. has acquired balance 25% stake in Fair Trade for a consideration of EUR 2.9 million paid on May 21, 2024. Pursuant to the acquisition, ECU Worldwide N.V. now holds 100% stake in Fair Trade .
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 M MOJIDRA Date: 2024.05.22 16:14:54 +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 balance acquisition of 25% stake in Fair Trade 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 balance 25% stake inFair Trade, ECU Worldwide N.V. now holds 100% stake in Fair Trade and is now a Wholly owned subsidiary of the Company. The Company’s Turnover as on March 31, 2023 is EUR 13,679,876. |
| 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; |
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 of the listed 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 May 21, 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 additional 25% stakeisEUR 2.9million |
| i) | percentage of shareholding / control acquired and / or number of shares acquired; |
Acquired additional 25% stake of Equity Shares and ECU Worldwide N.V. now holds 100% in Fair Trade. |
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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j) Brief background about the entity Fair Trade is a FCL and LCL consolidation acquired in terms of products/line of services provider, operating in Germany with business acquired, date of incorporation, offices in Bremen and Hamburg. 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: EUR 36,848,752 2022: EUR 40,884,763 2023: EUR 13,679,876
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]