Nimbus Projects Limited — Capital/Financing Update 2024

Jun 25, 2024

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NPL/BSE/2024-25/ 36	June 25, 2024
To,
The Listing Department
BSE Limited
Phiroze Jeejeebhoy Tower
Dalal Street
Mumbai — 400001

Ref: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Scrip Code: 511714 Scrip ID: NIMBSPROJ

Dear Sir,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that Board of Directors in its meeting held on Tuesday, June 25, 2024 has submitting a Letter of Intent proposing to act as Development Manager and to bring in a financer who shall infuse a sum of up to Rs.100 Crore (Rupees One Hundred Crores Only) in M/s. Supertech limited (“Company under Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016” ) for completing the “UP Country” project. The following are the other particulars:

a)	Name(s) of parties to whom the Letter of Intent (LOI) is submitted	Letter of Intent (LOI) Submitted to M/s. Supertech limited, a Company under Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016.
b)	Purpose of submitting the Letter of intent (LOI)	1. To act as Development Manager to complete the development of Housing “UP Country” project at Plot No. TS-01, Sector-17A, Greater Noida (U.P.) & to sell the balance inventory. 2. To bring the Financer who shall provide to the Supertech limited (“Company”) an interim finance of upto Rs.100 Crores (One Hundred Crores) @20%p.a; (‘Interim finance”) under Section 5(15) and Section 20(2)(c) of the Insolvency and Bankruptcy Code, 2016. 3. Nimbus Project Ltd. will charge a fee @20% on gross revenue for acting as a development manager.

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c)	Shareholding, if any, in the entity with whom the Letter of Intent is executed	Not Applicable
d)	Tenure	4 years
e)	Significant terms of the Letter of Intent (in brief) special rights like right to appoint directors, first right to share subscription in case of issuance of shares, right to restrict any change in capital structure	Not Applicable
f)	Whether, the said parties are related to promoter/promoter group/ group companies in any manner. If yes, nature of relationship	No
g)	Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arm’s length	No
h)	In case of issuance of shares to the parties, details of issue price, class of shares issued	NA
i)	In case of loan agreements, details of borrower, nature of the loan, total amount of loan granted/taken, total amount outstanding, date of execution of the loan agreement/sanction letter, details of the security provided to the lenders / by the borrowers for such loan or in case outstanding loans lent to a party or borrowed from a party become material on a cumulative basis	NA
j)	Any other disclosures related to such Letter of Intent, viz., details of nominee on the board of directors of the listed entity, potential conflict of interest arising out of such Letter of Intent	NA

You are requested you to please take the above on record.

Thanking you Yours faithfully,

For Nimbus Projects Limited

Jitendra Digitally signed by Jitendra Kumar Kumar Date: 2024.06.25 17:55:01 +05'30' Jitendra Kumar (Chief Financial Officer) PAN: BDJPK9833N

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