PDS LIMITED — Capital/Financing Update 2023

Apr 18, 2023

April 18, 2023

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PDS/SE/2023-24/229

Listing Department National Stock Exchange of India Limited Exchange Plaza, C-1 Block G, Bandra Kurla Complex, Bandra (E), Mumbai -400 051 ScripSymbol: PDSL	Corporate Relationship Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001 ScripCode: 538730

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

Re: ISIN - INE111Q01021

Dear Sir/ Madam,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that a Subsidiary of the Company, Norwest Industries Limited, incorporated under the laws of Hong Kong, has proposed to acquire an equity stake of 10% in Norlanka Manufacturing Limited, a Company incorporated under the laws of Hong Kong.

The additional details regarding aforesaid acquisition in lines with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, is enclosed as Annexure-A.

We request you to kindly take the above information on record.

Yours faithfully, for PDS Limited (Erstwhile PDS Multinational Fashions Limited)

ABHISHEK Digitally signed by ABHISHEKH KANOI H KANOI Date: 2023.04.18 18:54:45 +05'30'

Abhishekh Kanoi Head of Legal & Company Secretary ICSI Membership No.: F-9530

Encl.: a/a

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Annexure A

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DISCLOSURES PURSUANT TO SEBI CIRCULAR CIR/CFD/CMD/4/2015 DATED 9[TH] SEPTEMBER 2015

Disclosure for the acquisition of Norlanka Manufacturing Limited by Subsidiary of the Company, Norwest Industries Limited

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.	Norlanka Manufacturing Limited Size: Issued Share Capital: HK$12,500.00 divided into 12,500 Ordinary shares of HK$1.00 each Turnover: INR 8,449,169,802 [Equivalent to ≈HKD 811,120,301] PAT: INR 469,027,020 [Equivalent to ≈HKD 45,026,594] Networth: INR 405,259,229 [Equivalent to ≈HKD HKD 38,904,886]
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.	Apparel Industry
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)	To expand & create an opportunity in the fashion & apparel business
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.	On or before July 31, 2023
7	Nature of Consideration	Cash Consideration

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8	Cost of acquisition or the price at which the shares are acquired.	At Rs.6,57,62,821/- (Rupees Six Crores Fifty Seven Lakhs Sixty Two Thousand Eight Hundred Twenty One).[Equivalent to ≈USD 799,937]
9	Percentage of shareholding / control acquired and / or number of shares acquired.	The Company proposes to acquire 10% shares in Norlanka Manufacturing Limited post which the Norwest Industries Limited total shareholding in Norlanka Manufacturing Limited will be 100%.
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.	Norlanka Manufacturing Limited is a Company incorporated in Hong Kong, having its registered office at 7/F., Park Fook Industrial Building, 615-617 Tai Nan West Street, Cheung Sha Wan, Kowloon. The Company is engaged in trading of ready to wear garments & apparels and other opportunities. The Company has been incorporated in Hong Kong on October 22, 2008. Disclosure of turnover for last 3 (three) years: 2020-21: INR5,010,460,365 (HKD 481,004,195) 2021-22: INR 6,787,707,667 (HKD 651,619,936) 2022-23: INR 8,449,169,802 (HKD811,120,301) Countries ofpresence: HongKong

for PDS Limited

(Erstwhile PDS Multinational Fashions Limited)

ABHISHEK Digitally signed by ABHISHEKH KANOI H KANOI Date: 2023.04.18 18:55:26 +05'30'

Abhishekh Kanoi Head of Legal & Company Secretary ICSI Membership No.: F-9530

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