CL Educate Limited — Capital/Financing Update 2022

Sep 23, 2022

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To To Department of Corporate Services, Listing Department, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Dalal Street, C-1, G-Block, Bandra-Kurla Complex Mumbai – 400 001 Bandra, (E), Mumbai – 400 051

Scrip Code: 540403, Scrip Symbol: CLEDUCATE ISIN: INE201M01029

Sub: Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Madam/Sir(s)

Pursuant to Regulation 30 and other applicable Regulations, if any, of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that Career Launcher Infrastructure Private Limited (wholly owned Subsidiary of CL Educate Limited) has entered into an ‘Agreement to Sell’ dated September 23, 2022 for its Land and Building admeasuring 2.448 Hectares or 6.04 Acres, situated at Khasra Nos. 85, 86, 87 Paiki, 88 Paiki, 96 Paiki and 97 Paiki, situated in Village Jhalaria, Tehsil & District Indore – 452016, Madhya Pradesh, at a total consideration of Rs.17.50 Crores.

The Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD/4/2015, dated September 09, 2015, is attached herewith as Annexure - I.

The press release in this respect is also enclosed herewith as Annexure - II.

Kindly take the above information on record.

The information will also be hosted on the Company’s website at (www.cleducate.com).

Thanking You

For CL Educate Limited

ARJUN Digitally signed by ARJUN WADHWA WADHWA Date: 2022.09.23 22:30:45 +05'30' Arjun Wadhwa Chief Financial Officer

Place: New Delhi Date: September 23, 2022

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ANNEXURE - I

ANNEXURE- I	ANNEXURE- I	ANNEXURE- I	ANNEXURE- I
	S. No.	Disclosure requirem		ents	Detail/reas	on for not providing information
	1	At d P		f th t	Bk Vl	(WDV) as on March 31, 2022lding: Rs1665 Crores
	.	moun an ercen		age o e urnover or	oo au
		reven	eorinco	eandnetworth	Land & Bui	lding: Rs1665 Crores
		contri				..
			buted by such	unit or division of the
		listed	entity during t	e last financial year.	Net Worth	of Career Launcher Infrastructure
					Private LiR2155 C	mited (as on 31 March 2022):
					s..	ores
					% of Book	Value (WDV) of Indore Land &
					Building to	Net Worth: 77.3%
	2.	Date	on which the	agreement for sale has	The agreem	ent to sell has been entered into on
		been e	ntered into.		September	23, 2022.
	3.	Expecsale/d	teddateisposal.	ofcompletionof	March 202
	4.	Consil/d	derationrecl	eivedfromsuch	Total ConsiAd	deration: Rs. 17.5 Croresid R 3 C
		sae	sposa.		vance re	ceve: s. rores
	5.	Brief	details of buye	rs and whether any of	Buyer’s na	mes are:
		the	buyers belon	to the romoter/
				p
		/		i If
		promoter groupgrodetails thereof.		p companes. yes,	Gaffur S/o
					Arabali S/	Gaffur Patel
					Ansar S/o	Gaffur Patel
					TheBuyepromoter/pr	rsdoesnotbelongtotheomoter group/group companies.
	6.	Whether the transac		tion would fall within	No
		related party transac		tions? If yes, whetherarmslength”
		thesameisdoneat“
				.
	7.	Additionally, in caindicativedisclos		se of a slump sale,uresprovidedfor	Not Applic	able
		lti/		hll b dild b
		amagamaonmerge		r, sa e scose y
		the listed entity wit		respect to such slump
		sale.

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ANNEXURE - II

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CL Group to sell one more land Parcel, will deploy the cash in Core Business

23 September 2022, New Delhi : CL Educate Limited ( NSE, BSE: CLEDUCATE, 540403 ), a listed EdTech & MarTech entity, and owner of popular brands Career Launcher and Kestone, today announced that it has entered into an agreement to sell its plot of land and building thereon, situated at Indore, held by its subsidiary company Career Launcher Infrastructure Pvt Ltd (‘CLIP’).

CL Educate, as a strategic decision, has been in the process of exiting asset heavy businesses over the last few years, including its K-12 school business. As a part of this decision, the organization has been looking to convert its real estate bank into cash for redeployment in its core business.

Over the last year, the company has sold 4 other land parcels, for a total value in excess of Rs. 60 crores. The present sale, one of two school plots that the group had remaining has been sold for a total consideration of Rs. 17.5 crores, of which Rs. 3 crores have been received in advance, with the sale expected to be completed by the end of the financial year.

Commenting on the sale, Arjun Wadhwa, Chief Financial Officer , CL Educate said, “ The sale of our Indore school campus is the latest in a series of corporate actions that we have undertaken over recent months towards maximizing shareholders value. We shall invest these funds in our core businesses whilst keeping our focus on profitable growth in an asset-light and IP-rich company.”

“We have one remaining land asset which we will also attempt to liquidate this year .”

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