Omega Interactive Technologies Ltd. — M&A Activity 2024

Mar 9, 2024

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Date: 09/03/2024

The Manager, BSE Limited, 25[th] Floor, PJ Towers, Dalal Street Fort, Mumbai- 400 001

SUB: OUTCOME OF THE BOARD MEETING HELD ON SATURDAY, MARCH 09[TH ] MARCH, 2024. - REF: OMEGA INTERACTIVE TECHNOLOGIES LIMITED (BSE SCRIP CODE 511644)

Dear Sir/Ma’am,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and with reference to captioned subject, we wish to inform you that Board of Directors of the Company in its meeting held today, inter-alia, considered and approved to acquire 100% equity stake in M/s FINANVO TECHNOLOGIES PRIVATE LIMITED . Further the after the acquisition of 100% stake, it will become wholly owned subsidiary of the company as mentioned in Annexure - A, subject to applicable permissions and laws as required, if any.

Further, disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with circular No. CIR/CFD/ CMD/4/2015 dated 9" September, 2015 is enclosed herewith as an Annexure- A.

The Board meeting was commenced at 5.30 p.m. and concluded at 10.23 p.m.

You are requested to kindly take the same on record.

FOR, OMEGA INTERACTIVE TECHNOLOGIES LIMITED

Digitally signed by ARUN ARUN KUMAR KUMAR Date: 2024.03.09 22:24:43 +05'30'

________ ARUN KUMAR DIRECTOR DIN: 09055964

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ANNEXURE – A

DISCLOSURE OF INFORMATION PURSUANT TO REGULATION 30 OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015, READ WITH SEBI CIRCULAR NO. CIR/CFD/CMD/4/2015 DATED 9TH SEPTEMBER, 2015:

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SR. NO. Particulars Details
1 Name of the target entity, details in brief such as FINANVO TECHNOLOGIES PRIVATE
size, turnover etc. LIMITED
Turnover: The Company has
Intellectual Property related to IT
product and is under completion
stage.
2 Whether the acquisition would fall within related The proposed acquisition of 10,000
party transaction(s) and whether the promoter/ equity shares of Rs. 10/- each of
promoter group/ group companies have any FINANVO TECHNOLOGIES PRIVATE
interest in the entity being acquired? If yes, nature LIMITED , is not a Related Party
of interest and details thereof and whether the Transaction.
same is done at "arm’s length"
After acquisition of the proposed
shares of FINANVO , the
Promoter/Promoter group of the
Company will have indirect interest
being Promoter/Promoter Group of
the Company.
The proposed acquisition will be made
at an arm's length basis.
3 Industry to which the entity being acquired Information Technology Services
belongs
4 Objects and effects of acquisition (including but The said acquisition will provide the
not limited to, disclosure of reasons for acquisition Intellectual Property and its expertise
of target entity, if its business is outside the main which will help the company in its
line' of business of the listed entity exiting business segment.
5 Brief details of any governmental or regulatory NA
approvals required for the acquisition
6 Indicative time period for completion of the Within One Month.
acquisition
7 Nature of consideration – whether cash Cash
consideration or share swap :
8 Cost of acquisition or the price at which the shares Rs. 1,00,000/- (Rs. 10 per Equity Share)
are acquired
9 Percentage of shareholding / control acquired and 100%
/ or number of shares acquired;
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10 Brief background about the entity acquired in Products/line of business: terms of products/line of business acquired, date IT Services of incorporation, history of last 3 years turnover, country in which the acquired entity has presence Date of Incorporation and any other significant information (in brief) 19/07/2022 Turnover of last 3 years: As the company is under process of developing the product (IP), hence the company has not yet generated any revenue on the same.

FOR, OMEGA INTERACTIVE TECHNOLOGIES LIMITED

Digitally signed by ARUN ARUN KUMAR KUMAR Date: 2024.03.09 22:25:07 +05'30' ________ ARUN KUMAR DIRECTOR DIN: 09055964

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