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Centum Electronics Ltd — Capital/Financing Update 2023
Aug 11, 2023
61011_rns_2023-08-11_01ba5514-e072-401c-b816-61e137d83c5e.pdf
Capital/Financing Update
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11[th] August, 2023
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Ref: CEL/NSEBSE/BM/11082023
To,
Listing Department, Department of Corporate Services – National Stock Exchange of India Limited, Listing, Exchange Plaza, BSE Limited, Bandra Kurla Complex, P. J. Towers, Bandra (East), Dalal Street, Mumbai – 400 051 Mumbai – 400 001
Re: Scrip Symbol: CENTUM/ Scrip Code: 517544
Dear Sir/ Madam,
Sub: Intimation under Regulation 30(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015: Increase in investment in Centum Electronics UK Limited, Wholly Owned Subsidiary Company
In compliance with Regulation 30(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 we hereby inform you that the Board of Directors at their Meeting held today, have approved the proposal for further investment of 74,000 EUR in Centum Electronics UK Limited (Wholly Owned Subsidiary).
For the same disclosure under Regulation 30(6) read with Schedule III Part A Para A(1) of the Listing Regulations and the SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13 July, 2023 is attached to this letter.
Kindly take the above on record and acknowledge receipt of the same.
Yours faithfully,
For Centum Electronics Limited
Digitally signed by INDU INDU H S H S Date: 2023.08.11 21:52:34 +05'30'
Indu H S
Company Secretary & Compliance Officer
Encl: as above
Centum Electronics Limited
44, KHB Industrial Area, Yelahanka New Town, Bangalore - 560 106, Karnataka, India
Tel +91-(0)80-4143-6000 Fax +91-(0)80-4143-6005 Website www.centumelectronics.com E-mail [email protected] CIN - L85110KA1993PLC013869
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| SI No. |
Particulars | Description |
|---|---|---|
| 1 | Name of the target entity, details in brief such as size, turnover etc; |
Name: Centum Electronics UK Limited Turnover: EUR 22,903 as on 31.03.2023 Centum Electronics UK Limited is a Wholly Owned Subsidiary of Centum Electronics Limited |
| 2 | Whether the acquisition would fall within related party transactions 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"; |
Centum Electronics UK Limited is promoted by Centum Electronics Limited and being a Wholly Owned Subsidiary is a related party. |
| 3 | Industry to which the entity being acquired belongs; |
The nature of business is classified under code 64209 – Activities of other holding companies. NIC Code: 82990 |
| 4 | 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); |
This additional investment is pursuant to business requirements. |
| 5 | Brief details of any governmental or regulatory approvals required for the acquisition; |
No governmental or regulatory approvals required since the proposed transaction is covered under the Automatic Route as prescribed by the Reserve Bank of India. |
| 6 | Indicative time period for completion of the acquisition; |
By end of August, 2023. |
| 7 | Cost of acquisition or the price at which the shares are acquired; |
Additional investment of 74,000 EUR |
Centum Electronics Limited
44, KHB Industrial Area, Yelahanka New Town, Bangalore - 560 106, Karnataka, India
Tel +91-(0)80-4143-6000 Fax +91-(0)80-4143-6005 Website www.centumelectronics.com E-mail [email protected] CIN - L85110KA1993PLC013869
| 8 | Nature of consideration - whether cash consideration or share swap and details of the same; |
Cash consideration. | |
| 9 | Percentage of shareholding/ control acquired and/ or number of shares acquired; |
Additional investment of 74,000 EUR | |
| 10 | 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). |
Not applicable as this is not acquisition. It is only the additional investment in the existing subsidiary of the Company. |