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PDS LIMITED — Capital/Financing Update 2021
Sep 29, 2021
60265_rns_2021-09-29_21103a0d-e0b0-4d80-b12b-0adaf8f8223d.pdf
Capital/Financing Update
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PDS Multinational Fashions Limited
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| PDS/SE/2021-22/55 | September 29, 2021 |
|---|---|
| Listing Department National Stock Exchange of India Limited Exchange Plaza, C-1 Block G, Bandra Kurla Complex, Bandra (E), Mumbai -400 051 Scrip Symbol: PDSMFL |
Corporate Relationship Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001 Scrip Code: 538730 |
Re: ISIN - INE111Q01013
- Sub: Intimation regarding completion of transaction as regard to the acquisition of acquisition of 100% Equity Stake in PG Capital FZE by the Subsidiary Company
Ref: Intimation Letter dated May 27, 2021, July 1, 2021 and August 27, 2021
Dear Sir/Madam,
With reference to the captioned subject and in furtherance to our previous intimation vide Letters dated May 27, 2021, July 1, 2021 and August 27, 2021, this is to inform you that the Company has completed the transaction as regard to the acquisition of 100% Equity Stake in PG Capital FZE, a Company incorporated under the laws of Dubai, United Arab Emirates by the Company’s step-down subsidiary, PDS Multinational FZCO, a Company incorporated under the laws of Dubai, United Arab Emirates on September 27, 2021.
The information required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 is enclosed herewith as Annexure I for your kind reference.
You are requested to kindly take the same on records.
Thanking you,
Yours faithfully, for PDS Multinational Fashions Limited
- �J Abhishekh Kanoi Head of Legal & Company Secretary ICSI Membership No.: F-9530
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Encl: As above
Regd. Off: No. 758 & 759, 2[nd] Floor, 19[th] Main, Sector -2, HSR Layout, Bengaluru – 560 102, Karnataka, (India) Corp. Office: Unit No.971, Solitaire Corporate Park, Andheri – Ghatkopar Link Road, Andheri (East), Mumbai – 400093, Maharashtra (India) Email: [email protected]; Website: www.pdsmultinational.com; Telephone No.: +91 80 67653000; +91 22 41441100 CIN: L18101KA2011PLC094125
PDS Multinational Fashions Limited
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Annexure I
Disclosures pursuant to SEBI Circular CIR/CFD/CMD/4/2015 dated September 9, 2015
Disclosure for the acquisition of 100% Equity Stake in PG Capital FZE by the Subsidiary Company
| Sl. No. |
Particulars in respect of the Event | Details/Information of the Event |
|---|---|---|
| 1 | Name of the target entity, details in brief such as size, turnover etc. |
PG Capital FZE Size: Issued and Paid-up Capital of USD 15,804 Turnover: Nil |
| 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’s length” |
No |
| 3 | Industry to which the entity being acquired belongs. |
Commercial Enterprise Investment, Institution and Management |
| 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 investee companies of PG Capital FZE (Yellow Octopus EU Sp. z o.o. Sp.K. and One Stop Shop Solutions Sp. z o.o. Sp.K.) in which it holds a 50% stake are engaged in providing commercial sustainability solutions in the fashion industry. The Company foresees a lot of synergy value through this investment in terms of providing sustainable solutions to its customers in the Apparel Industry. |
| 5 | Brief details of any governmental or regulatory approvals required for the acquisition. |
No governmental or regulatory approval required. |
| 6 | Indicative time period for completion of the acquisition. |
Acquisition has been completed on September 27, 2021 |
| 7 | Nature of Consideration | Cash Consideration |
| 8 | Cost of acquisition or the price at which the shares are acquired. |
USD 11.31 Million |
| 9 | Percentage of shareholding / control acquired and / or number of shares acquired. |
100% |
Regd. Off: No. 758 & 759, 2[nd] Floor, 19[th] Main, Sector -2, HSR Layout, Bengaluru – 560 102, Karnataka, (India) Corp. Office: Unit No.971, Solitaire Corporate Park, Andheri – Ghatkopar Link Road, Andheri (East), Mumbai – 400093, Maharashtra (India) Email: [email protected]; Website: www.pdsmultinational.com; Telephone No.: +91 80 67653000; +91 22 41441100 CIN: L18101KA2011PLC094125
PDS Multinational Fashions Limited
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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.
The Company has been incorporated in Azman Free Zone, UAE and is engaged in the business of commercial enterprises investment, institution and management.
The Company has been incorporated in UAE on May 21, 2020 and has not reported and turnover since incorporation.
for PDS Multinational Fashions Limited - �J
Abhishekh Kanoi Head of Legal & Company Secretary ICSI Membership No.: F-9530
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Regd. Off: No. 758 & 759, 2[nd] Floor, 19[th] Main, Sector -2, HSR Layout, Bengaluru – 560 102, Karnataka, (India) Corp. Office: Unit No.971, Solitaire Corporate Park, Andheri – Ghatkopar Link Road, Andheri (East), Mumbai – 400093, Maharashtra (India) Email: [email protected]; Website: www.pdsmultinational.com; Telephone No.: +91 80 67653000; +91 22 41441100 CIN: L18101KA2011PLC094125