Global Surfaces Limited — Capital/Financing Update 2023

May 9, 2023

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Ref: GSL/SEC/2023-24/13 Date: May 09, 2023

To BSE Limited National Stock Exchange of India Limited Dept of Corporate Services The Listing Department Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Dalal Street, Fort, Bandra Kurla Complex, Bandra (East), Mumbai 400 001 (Maharashtra) Mumbai 400 051 (Maharashtra) Scrip Code: 543829 Symbol: GSLSU

Subject : Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. - Intimation of incorporation of Subsidiary Company.

Dear Sir / Madam,

With reference to our intimation dated April 06, 2023 relating to incorporation of a subsidiary of the Company and pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we hereby wish to inform that, incorporation of subsidiary of the Company in the name of “Superior Surfaces INC” on May 05, 2023. The Office of the Secretary of State of Texas has issued a Certificate of Incorporation for the same.

The details as required under Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9[th] September, is attached herewith as “ Annexure A ”.

You are requested to take on record the above information.

Thanking you Yours faithfully,

For Global Surfaces Limited

ASEEM Digitally signed by ASEEM SEHGAL SEHGAL Date: 2023.05.09 12:56:40 +05'30' Aseem Sehgal Company Secretary and Compliance Officer M. No.: A55690 Encl.: As above.

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Annexure A

	Annexure	A
**Sr. No. **	Particulars	Remarks
1.	Name of the target entity, details in brief such as size, turnover etc	Superior Surfaces INC Authorized Capital: 2,00,000 USD
2.	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”;	The Subsidiary Company is a related party of the company. The Promoter is interested in the transaction and the same will be done at arm’s length.
3.	Industry to which the entity being acquired belongs	Distribution of artificial stones including engineered quartz
4.	Objects and effects 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);	The Superior Surfaces INC has been incorporated as Subsidiary of Global Surfaces Limited to for the purpose of the business of distribution artificial stones including engineered quartz. The aim and object of the Subsidiary Company to expand and take the Business thereof to a profitability venture thus to make it a progressive, Sustainable and reliable business.
5.	Brief details of any governmental or regulatory approvals required for the acquisition;	Not Applicable
6.	Indicative time period for completion of the acquisition;	Not Applicable
7.	Nature of consideration - whether cash consideration or share swap and details ofthe same;	Cash (by subscribing to 50% paid up share capital)
8.	Cost of acquisition or the price at which the shares are acquired;	Not Applicable
9.	Percentage of shareholding / control acquired and / or number of shares acquired;	50% of Shareholding and controls the composition of the Board of Directors.
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);	Superior Surfaces INC is incorporated and registered at State of Texas, USA. Turnover: Not applicable, since the Company got incorporated on May 05, 2023

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