Newgen Software Technologies Limited — Capital/Financing Update 2023

Feb 14, 2023

Newgen Software Technologies Limited

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CIN: L72200DL 1992PLC049074, Registered Office: E-44/13, Okhla Phase II, New Delhi 110020, India Tel: +91 11 46533200, 26384060, 26384146 Fax:+91 11 26383963

Date: 14[th] February 2023

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400001	National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block, Bandra- Kurla Complex Bandra (E), Mumbai – 400051
Ref.: Newgen Software Technologies Limited (NEWGEN/INE619B01017) Scrip Code – 540900	Ref.: Newgen Software Technologies Limited (NEWGEN/INE619B01017)

Sub.: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Ref: Incorporation of a wholly owned subsidiary in Saudi Arabia

Dear Sir/ Ma’am,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,we would like to inform you that the Board of Directors of the Company at its meeting held today has approved for incorporation of a wholly owned subsidiary of the Company in Saudi Arabia.

The details required under regulation 30 of SEBI (LODR), Regulations, 2015 read with SEBI Circular CIR/CFD/CMD/4/2015 dated September 09, 2015, are enclosed as “ Annexure A ”.

This is for your kind information and record.

Thanking You.

For Newgen Software Technologies Limited

AMAN Digitally signed by AMAN MOURYA MOURYA Date: 2023.02.14 14:52:54 +05'30' Aman Mourya Company Secretary

Encl.: a/a

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Newgen Software Technologies Limited

CIN: L72200DL 1992PLC049074, Registered Office: E-44/13, Okhla Phase II, New Delhi 110020, India Tel: +91 11 46533200, 26384060, 26384146 Fax:+91 11 26383963

Annexure-A

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S. No. Particulars Details
a) Name of the target entity, details in brief such as size, As may be approved by the
turnover etc. government of Saudi Arabia. Company is
yet to be incorporated, as per the approval
of the Board.
b) Whether the acquisition/ incorporation would fall within The wholly owned subsidiary company once
related party transaction(s) and whether the incorporated will be a related party of the
promoter/promoter group/ group companies have any company.
interest in the entity being acquired.
Save and except what is mentioned above,
If yes, the nature of interest and details thereof and the Promoter/promoter group/ group
whether the same is done at “arm’s length” companies are not interested in the
transaction.
c) The industry to which the entity being acquired/ IT Industry.
incorporated belongs
d) Objects and effects of incorporation (including but not To cater to the increasing market
limited to, disclosure of reasons for the incorporation of base/business in the country of Saudi Arabia
entity, if its business is outside the main line of business (including adjacent countries).
of the Listed Entity)
e) Brief details of any governmental or regulatoryapprovals Not Applicable
required for the acquisition
f) Indicative time period for completion of the acquisition Not Applicable
g) Nature of consideration - whether cash consideration or 100% to the share subscription capital in cash
share swap and details of the same
h) Cost of acquisition or the price at which the shares are Not Applicable
acquired
i) Percentage of shareholding/control acquired and/or 100%
number of shares acquired.
j) Brief background about the entity acquired in terms of Not Applicable
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)
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Thanking You.

For Newgen Software Technologies Limited

AMAN Digitally signed by AMAN MOURYA MOURYA Date: 2023.02.14 15:01:08 +05'30'

Aman Mourya Company Secretary

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