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Cambridge Technology Enterprises Ltd. Capital/Financing Update 2021
61851_rns_2021-11-12_71604c33-d3c4-4e30-8806-00690939be1b.pdf
Capital/Financing Update
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November 12, 2021
To, To, Corporate Relationship Department, The Listing Department, BSE Limited National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No/C/1, G Block Mumbai – 400 001 Mumbai – 400 051
Dalal Street, Bandra Kurla Complex , Bandra (East),
Dear Sir/Madam,
Sub: Reduction of Share Capital of Cambridge Technology Investments Pte. Ltd., Wholly Owned Subsidiary
Ref: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015
Cambridge Technology Investments Pte Ltd., 100% Wholly Owned subsidiary ("CTIPL") of the Company in Singapore intends to reduce its share capital, as there are no significant business operations. Presently, the company owns 20,83,700 shares of SGD 1 each in CTIPL.
We wish to further inform you that the Board of Directors of the Company, at its meeting held on November 11, 2021 have considered and approved, inter-alia, reduction of share capital of CTIPL up to 95% i.e., upto 19,83,700 ordinary shares or such number of shares as may be permitted. This may amount to partial disinvestment/disposal of shares by the Company in CTIPL. However, the entire process of reduction of share capital by CTIPL is subject to applicable laws of the host country ("Singapore") in which CTIPL is incorporated, and approvals, if any, of its Board of Directors or Shareholders, and subject to the requisite approvals, if any, of any relevant statutory, regulatory or governmental authorities, in India or Singapore.
Even upon reduction of share capital as previously mentioned, CTIPL will remain 100% wholly owned subsidiary of the company. There will neither be any change in control of company in CTIPL, nor the business of CTIPL/ Group will be effected.
The details as required under Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 are provided below:
| S. | Particulars | Company |
|---|---|---|
| No | Cambridge Technology Investments Pte. Ltd | |
| a) | The amount and percentage of the turnover or | Turnover – Nil |
| revenue or income and net worth contributed by | Percentage – Nil | |
| such unit or division of the listed entity during | Net worth – 1.3 Million USD | |
| the last financial year; | Percentage – 26.66 % | |
| b) | Date on which the agreement for sale has been | Not Applicable |
| entered into; | ||
Registered & Corporate Office: Cambridge Technology Enterprises Limited Unit No 04 - 03, Level 4, Block 1 Cyber Pearl, Hitec City, Madhapur Hyderabad - 500 081, Telangana, India. Tel:+91-40-4023-4400 Fax:+91-40-4023-4600 Email id: [email protected]
Bengaluru
91 Springboard Business Hub Pvt Ltd, 4th Floor, #175 & #176, Dollars Colony, Phase 4, JP Nagar, Bannerghatta Main Road, Bengaluru - 560 076, Karnataka, India. Tel: +91-80-4633-4400 Fax:+91-80-4299-5779
Mumbai
Level 4, A Wing, Dynasty Business Park Andheri Kurla Road, Andheri (E) Mumbai - 400 059, Maharashtra, India. Tel:+91-22-6786-9410 Fax:+91-22-6786-9199
Chennai
AMARA SRI, situated at old No: 313, New No: 455, Block No: 75, 7th floor, Anna Salai Teynampet, Chennai 600018, Tamilnadu, India Tel: 040-40234400
CIN: L72200TG1999PLC030997 www.ctepl.com
| c) | Theexpecteddateofcompletionofsale/disposal; | Expected date of completion of the process ofreduction of share capital by CTIPL is February 28,2022. The entire process of reduction of sharecapital by CTIPL is subject to applicable laws of thehost country ("Singapore") in which CTIPL isincorporated, and approvals, if any, of its Board ofDirectors or Shareholders, and subject to therequisite approvals, if any, of any relevantstatutory, regulatory or governmental authorities,in India or Singapore. |
|---|---|---|
| d) | Consideration received from such sale/disposal; | Repayment of proceeds if any, after completion ofprocess of reduction of share capital by CTIPL. Thisis also subject to valuation in Singapore and/orIndia. |
| e) | Brief details of buyers | Not Applicable |
| Whether any of the buyers belong to thepromoter/ promoter group/group companies. Ifyes, details thereof; | - | |
| f) | Whether the transaction would fall withinrelated party transactions? If yes, whether thesame is done at "arms length"; | Not Applicable |
| g) | Additionally, in case of a slump sale, indicativedisclosures provided for amalgamation/merger,shall be disclosed by the listed entity withrespect to such slump sale. | Not Applicable |
Thanking you,
Yours faithfully,
For Cambridge Technology Enterprises Limited
ASHISH BHATTAD Digitally signed by ASHISH BHATTAD Date: 2021.11.12 16:03:52 +05'30'
Ashish Bhattad (Company Secretary & Compliance Officer) Membership No. A34781
Registered & Corporate Office: Cambridge Technology Enterprises Limited Unit No 04 - 03, Level 4, Block 1 Cyber Pearl, Hitec City, Madhapur Hyderabad - 500 081, Telangana, India. Tel:+91-40-4023-4400 Fax:+91-40-4023-4600 Email id: [email protected]
Bengaluru
91 Springboard Business Hub Pvt Ltd, 4th Floor, #175 & #176, Dollars Colony, Phase 4, JP Nagar, Bannerghatta Main Road, Bengaluru - 560 076, Karnataka, India. Tel: +91-80-4633-4400 Fax:+91-80-4299-5779
Mumbai
Level 4, A Wing, Dynasty Business Park Andheri Kurla Road, Andheri (E) Mumbai - 400 059, Maharashtra, India. Tel:+91-22-6786-9410 Fax:+91-22-6786-9199
Chennai
AMARA SRI, situated at old No: 313, New No: 455, Block No: 75, 7th floor, Anna Salai Teynampet, Chennai 600018, Tamilnadu, India Tel: 040-40234400