AI assistant
Route Mobile Limited — Capital/Financing Update 2021
Aug 3, 2021
61371_rns_2021-08-03_c57eaed3-02b2-4535-91ad-432e8935393c.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
Ref No: RML/2020-21/113
Date: August 3, 2021
To, BSE Limited National Stock Exchange of India Limited Scrip Code: 543228 NSE Symbol: ROUTE
Dear Sir/Madam,
Sub: Monitoring Agency Report for the quarter ended June 30, 2021
Pursuant to Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and 41(4) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed herewith Monitoring Agency Report in respect of utilization of proceeds of IPO for the quarter ended June 30, 2021 issued by Axis Bank Limited, Monitoring Agency.
You are requested to take the above information on your record.
Thanking you, Yours faithfully, For Route Mobile Limited
RATHIN Digitally signed by RATHINDRA DAS DRA DAS Date: 2021.08.03 18:28:45 +05'30'
________ Rathindra Das
Head Legal, Company Secretary & Compliance Officer
Encl: as above
AXB/CO/IFB-TS/2021-22/63
August 3[rd] , 2021
To,
Route Mobile Limited
4th Dimension, 3rd Floor, Mind Space, Malad (West), Mumbai 400 064, Maharashtra, India.
Dear Sir,
Sub.: Route Mobile Limited - Initial public offering of equity shares by the Company aggregating upto Rs. 240 Crores.
We write in our capacity of Monitoring Agent to the Company and refer to our duties cast under Regulation 41(2) of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2018.
In terms of above, please find attached the Monitoring Report for the quarter ended on June 30, 2021 as per Schedule XI of the aforesaid SEBI Regulations.
Request you to kindly take the same on records.
Thanking you.
For and on behalf of Axis Bank Ltd
==> picture [86 x 41] intentionally omitted <==
Authorized Signatory
Axis Bank Limited, ‘Axis House’, C-2, Wadia International Centre, Pandurang Budhkar marg, Worli, Mumbai - 400 025. www.axisbank.com
Report of the Monitoring Agency
Name of the Issuer: Route Mobile Limited
For Quarter ended: 30[th] June, 2021
Name of the Monitoring Agency: Axis Bank Limited
(a) Deviation from the objects: No deviation from objects (relevant comments are specified in the report below)
(b) Range of Deviation: Not applicable (relevant comments are specified in the report below)
Declaration:
We declare that this report is based on the format as prescribed by SEBI (ICDR) Regulations, 2018, as amended. We further declare that this report provides a true and fair view of the utilization of issue proceeds.
We declare that we do not have any direct / indirect interest in or relationship with the issuer/promoters/directors/management and also confirm that we do not perceive any conflict of interest in such relationship / interest while monitoring and reporting the utilization of issue proceeds by the issuer. We also declare that the certificate is provided on the basis of management representation and certification provided by the independent chartered accountant.
For and on behalf of Axis Bank Ltd
==> picture [86 x 42] intentionally omitted <==
____ Name: Mangalagowri Bhat Date: August 3[rd] , 2021
Axis Bank Limited, ‘Axis House’, C-2, Wadia International Centre, Pandurang Budhkar marg, Worli, Mumbai - 400 025. www.axisbank.com
1) Issuer Details:
Name of the issuer : Route Mobile Limited The names of the promoters of the issuer : Sandipkumar Gupta, and Rajdipkumar Gupta Industry/sector to which it belongs : Cloud Communication platform as a service (“CPaaS”). 2) Issue Details : Issue Period : 09[th] September, 2020 – 11[th] September, 2020 Type of Issue (public/rights) : Public Issue Type of specified securities : Equity Shares Grading : As this is an offer of Equity shares, no credit rating agency has been appointed in respect of obtaining grading for the offer. Issue size (Rs. in Crores) : Fresh issue of Rs. 240 crores
- 3) Details of the arrangement made to ensure the monitoring of issue proceeds:
| Particulars | Reply | Comments of Monitoring Agency |
Comments of the Board of Directors |
|---|---|---|---|
| Whether all the utilization is as per disclosure in Offer Document? |
Yes | INR 782.82 million has been utilised as on 30thJune 2021, and the balance amount is still lyingin the bank account. |
INR 782.82 million has been utilised as on 30thJune 2021, and the balance amount is still lyingin the bank account. |
| Whether Shareholder approval is obtained in case of material deviations# from expenditures disclosed in Offer Document? |
Not applicable | Not applicable | Not applicable |
| Whether means of finance for disclosed objects of the Issue has changed? |
No | No | No |
| Any major deviation observed over the earlier monitoring agencyreports? |
No | No | No |
| Whether all Government / Statutory approvals related to the object(s)obtained? |
Not applicable | Not applicable | Not applicable |
| Whether all arrangements pertaining to technical assistance/collaboration are in operation? |
Yes | Yes | Yes |
| Any favorable events improving object(s)viability |
No | No | No |
| Any unfavorable events affecting object(s)viability |
No | No | No |
| Any other relevant information that may materially affect the decision makingof the investors |
None | None | None |
# Where material deviation may be defined to mean:
a) Deviation in the objects or purposes for which the funds have been raised;
b) Deviation in the amount of funds actually utilized by more than 10% of the amount projected in the offer documents.
4) Details of object(s)s to be monitored:
- (i) Cost of objects-
| Particulars | Amount in INR. Million |
|---|---|
| Gross Proceeds from the Fresh Issue | 2400.00 |
| (Less)Offer expenses* | 169.09 |
| Net Proceeds | 2230.91 |
- Total issue expenses attributable to Route Mobile Limited is 178.42 mn. Thus additional INR 9.33 mm is paid by the Company from General corporate expense.
(Give Item by Item Description for all the Objects Stated in Offer Document separately in following format)
| Sl. No |
Item Head | Original Cost (as per Offer Document) INR In millions |
Revised Cost INR In millions |
Comments of Monitoring Agency |
Comments of the Board | Comments of the Board | of Directors |
|---|---|---|---|---|---|---|---|
| Reason of cost revision |
Proposed financing option |
Particulars of firm arrangements made |
|||||
| 1 | Repayment or pre- payment, in full or part, of certain borrowings of our Company |
365.00 | NA | NA | NA | NA | NA |
| 2 | Acquisitions and other strategic initiatives |
830.00 | NA | NA | NA | NA | NA |
| 3 | Purchase of office premises in Mumbai |
650.00 | NA | NA | NA | NA | NA |
| 4 | General corporate purpose |
385.91 | NA | NA | NA | NA | NA |
| Total | 2,230.91 |
(ii) Progress in the objects-
| (Give Item byItem Description | (Give Item byItem Description | (Give Item byItem Description | for all the Objects Stated in Offer Document separatelyin the followingformat)– INR in millions Amount utilized Total unutilized Amount Comments of Monitoring Agency Comments of the Board of Directors As at Beginning of the quarter During the quarter At the end of the quarter Reason of idle funds Proposed Course of Action 365.00 Nil 365.00 Nil Company has made the repayment of loan availed from HDFC bank (65 mn) and Kotak bank (300 mn) (Refer Annexure 2) and accordingly it stand completely utilised as on 30th June,2021 NA NA 408.49 Nil 408.49 421.51 Company has paid INR 120 million to TeleDNA for acquisition as per Business Transfer Agreement and paid INR 288.49 million to Route Mobile UK Limited pursuant to balance earn out payment for acquisition of 365 squared (Refer Annexure 3) NA NA Nil Nil Nil 650.00 NA NA NA 9.33 Nil 9.33 376.58 INR 9.33 million represents IPO related expenses apportioned to the Company NA NA 782.82 Nil 782.82 1448.09 |
for all the Objects Stated in Offer Document separatelyin the followingformat)– INR in millions Amount utilized Total unutilized Amount Comments of Monitoring Agency Comments of the Board of Directors As at Beginning of the quarter During the quarter At the end of the quarter Reason of idle funds Proposed Course of Action 365.00 Nil 365.00 Nil Company has made the repayment of loan availed from HDFC bank (65 mn) and Kotak bank (300 mn) (Refer Annexure 2) and accordingly it stand completely utilised as on 30th June,2021 NA NA 408.49 Nil 408.49 421.51 Company has paid INR 120 million to TeleDNA for acquisition as per Business Transfer Agreement and paid INR 288.49 million to Route Mobile UK Limited pursuant to balance earn out payment for acquisition of 365 squared (Refer Annexure 3) NA NA Nil Nil Nil 650.00 NA NA NA 9.33 Nil 9.33 376.58 INR 9.33 million represents IPO related expenses apportioned to the Company NA NA 782.82 Nil 782.82 1448.09 |
for all the Objects Stated in Offer Document separatelyin the followingformat)– INR in millions Amount utilized Total unutilized Amount Comments of Monitoring Agency Comments of the Board of Directors As at Beginning of the quarter During the quarter At the end of the quarter Reason of idle funds Proposed Course of Action 365.00 Nil 365.00 Nil Company has made the repayment of loan availed from HDFC bank (65 mn) and Kotak bank (300 mn) (Refer Annexure 2) and accordingly it stand completely utilised as on 30th June,2021 NA NA 408.49 Nil 408.49 421.51 Company has paid INR 120 million to TeleDNA for acquisition as per Business Transfer Agreement and paid INR 288.49 million to Route Mobile UK Limited pursuant to balance earn out payment for acquisition of 365 squared (Refer Annexure 3) NA NA Nil Nil Nil 650.00 NA NA NA 9.33 Nil 9.33 376.58 INR 9.33 million represents IPO related expenses apportioned to the Company NA NA 782.82 Nil 782.82 1448.09 |
for all the Objects Stated in Offer Document separatelyin the followingformat)– INR in millions Amount utilized Total unutilized Amount Comments of Monitoring Agency Comments of the Board of Directors As at Beginning of the quarter During the quarter At the end of the quarter Reason of idle funds Proposed Course of Action 365.00 Nil 365.00 Nil Company has made the repayment of loan availed from HDFC bank (65 mn) and Kotak bank (300 mn) (Refer Annexure 2) and accordingly it stand completely utilised as on 30th June,2021 NA NA 408.49 Nil 408.49 421.51 Company has paid INR 120 million to TeleDNA for acquisition as per Business Transfer Agreement and paid INR 288.49 million to Route Mobile UK Limited pursuant to balance earn out payment for acquisition of 365 squared (Refer Annexure 3) NA NA Nil Nil Nil 650.00 NA NA NA 9.33 Nil 9.33 376.58 INR 9.33 million represents IPO related expenses apportioned to the Company NA NA 782.82 Nil 782.82 1448.09 |
for all the Objects Stated in Offer Document separatelyin the followingformat)– INR in millions Amount utilized Total unutilized Amount Comments of Monitoring Agency Comments of the Board of Directors As at Beginning of the quarter During the quarter At the end of the quarter Reason of idle funds Proposed Course of Action 365.00 Nil 365.00 Nil Company has made the repayment of loan availed from HDFC bank (65 mn) and Kotak bank (300 mn) (Refer Annexure 2) and accordingly it stand completely utilised as on 30th June,2021 NA NA 408.49 Nil 408.49 421.51 Company has paid INR 120 million to TeleDNA for acquisition as per Business Transfer Agreement and paid INR 288.49 million to Route Mobile UK Limited pursuant to balance earn out payment for acquisition of 365 squared (Refer Annexure 3) NA NA Nil Nil Nil 650.00 NA NA NA 9.33 Nil 9.33 376.58 INR 9.33 million represents IPO related expenses apportioned to the Company NA NA 782.82 Nil 782.82 1448.09 |
for all the Objects Stated in Offer Document separatelyin the followingformat)– INR in millions Amount utilized Total unutilized Amount Comments of Monitoring Agency Comments of the Board of Directors As at Beginning of the quarter During the quarter At the end of the quarter Reason of idle funds Proposed Course of Action 365.00 Nil 365.00 Nil Company has made the repayment of loan availed from HDFC bank (65 mn) and Kotak bank (300 mn) (Refer Annexure 2) and accordingly it stand completely utilised as on 30th June,2021 NA NA 408.49 Nil 408.49 421.51 Company has paid INR 120 million to TeleDNA for acquisition as per Business Transfer Agreement and paid INR 288.49 million to Route Mobile UK Limited pursuant to balance earn out payment for acquisition of 365 squared (Refer Annexure 3) NA NA Nil Nil Nil 650.00 NA NA NA 9.33 Nil 9.33 376.58 INR 9.33 million represents IPO related expenses apportioned to the Company NA NA 782.82 Nil 782.82 1448.09 |
for all the Objects Stated in Offer Document separatelyin the followingformat)– INR in millions Amount utilized Total unutilized Amount Comments of Monitoring Agency Comments of the Board of Directors As at Beginning of the quarter During the quarter At the end of the quarter Reason of idle funds Proposed Course of Action 365.00 Nil 365.00 Nil Company has made the repayment of loan availed from HDFC bank (65 mn) and Kotak bank (300 mn) (Refer Annexure 2) and accordingly it stand completely utilised as on 30th June,2021 NA NA 408.49 Nil 408.49 421.51 Company has paid INR 120 million to TeleDNA for acquisition as per Business Transfer Agreement and paid INR 288.49 million to Route Mobile UK Limited pursuant to balance earn out payment for acquisition of 365 squared (Refer Annexure 3) NA NA Nil Nil Nil 650.00 NA NA NA 9.33 Nil 9.33 376.58 INR 9.33 million represents IPO related expenses apportioned to the Company NA NA 782.82 Nil 782.82 1448.09 |
|---|---|---|---|---|---|---|---|---|---|
| Sl. No |
Item Heads | Net Proceeds |
Amount utilized | Total unutilized Amount |
Comments of Monitoring Agency |
Comments of the Board of Directors |
|||
| As at Beginning of the quarter |
During the quarter |
At the end of the quarter |
Reason of idle funds |
Proposed Course of Action |
|||||
| 1 | Repayment or pre- payment, in full or part, of certain borrowings of our Company |
365.00 | 365.00 | Nil | 365.00 | Nil | Company has made the repayment of loan availed from HDFC bank (65 mn) and Kotak bank (300 mn) (Refer Annexure 2) and accordingly it stand completely utilised as on 30th June,2021 |
NA | NA |
| 2 | Acquisitions and other strategic initiatives |
830.00 | 408.49 | Nil | 408.49 | 421.51 | Company has paid INR 120 million to TeleDNA for acquisition as per Business Transfer Agreement and paid INR 288.49 million to Route Mobile UK Limited pursuant to balance earn out payment for acquisition of 365 squared (Refer Annexure 3) |
NA | NA |
| 3 | Purchase of office premises in Mumbai |
650.00 | Nil | Nil | Nil | 650.00 | NA | NA | NA |
| 3 | General corporate purpose** |
385.91 | 9.33 | Nil | 9.33 | 376.58 | INR 9.33 million represents IPO related expenses apportioned to the Company |
NA | NA |
| Total* | 2,230.91 | 782.82 | Nil | 782.82 | 1448.09 |
*Out of the total unutilised amount, INR 205.25mn is being held in Current Account of the Company in form of Fixed Deposit.
**Pursuant to Regulation 41(2) of SEBI (ICDR) Regulations Monitoring Agency is not commenting on the utilization of issue proceeds under the head General Corporate Purpose.
(iii) Deployment of unutilised Issue proceeds: INR in millions
| Sl. No | Type of instrument where amount invested* |
Amount invested (INR in million) |
Maturity date |
Earnings (INR in million) |
Return on Investment (ROI %) |
Book Value as at the end of quarter (INR in million) |
|---|---|---|---|---|---|---|
| 1 | Fixed Deposit with ICICI bank bearing FD no. 195913004070 |
250.00 | 24-Sep-21 | 4.35 | 3.50% | 254.35 |
| 2 | Fixed Deposit with ICICI bank bearing FD no. 195913004071 |
130.00 | 24-Sep-21 | 2.26 | 3.50% | 132.26 |
| 3 | Fixed Deposit with Axis bank bearing FD no 920040055399996 |
19.99 | 23-Sep-21 | 0.51 | 5.15% | 20.50 |
| 4 | Fixed Deposit with Axis bank bearing FD no 920040055400094 |
19.99 | 23-Sep-21 | 0.51 | 5.15% | 20.50 |
| 5 | Fixed Deposit with Axis bank bearing FD no 920040055399336 |
19.99 | 23-Sep-21 | 0.51 | 5.15% | 20.50 |
| 6 | Fixed Deposit with Axis bank bearing FD no 920040055400216 |
19.99 | 23-Sep-21 | 0.51 | 5.15% | 20.50 |
| 7 | Fixed Deposit with Axis bank bearing FD no 920040055659434 |
15.00 | 29-Sep-21 | 0.37 | 5.15% | 15.37 |
| 8 | Fixed Deposit with Axis bank bearing FD no 920040055388899 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 9 | Fixed Deposit with Axis bank bearing FD no 920040055399158 |
19.99 | 23-Sep-21 | 0.51 | 5.15% | 20.50 |
| 10 | Fixed Deposit with Axis bank bearing FD no 920040055399679 |
19.99 | 23-Sep-21 | 0.51 | 5.15% | 20.50 |
| 11 | Fixed Deposit with Axis bank bearing FD no 920040055390520 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 12 | Fixed Deposit with Axis bank bearing FD no 920040055399857 |
19.99 | 23-Sep-21 | 0.51 | 5.15% | 20.50 |
|---|---|---|---|---|---|---|
| 13 | Fixed Deposit with Axis bank bearing FD no 920040055399970 |
19.99 | 23-Sep-21 | 0.51 | 5.15% | 20.50 |
| 14 | Fixed Deposit with Axis bank bearing FD no 920040055399608 |
19.99 | 23-Sep-21 | 0.51 | 5.15% | 20.50 |
| 15 | Fixed Deposit with Axis bank bearing FD no 920040055399475 |
19.99 | 23-Sep-21 | 0.51 | 5.15% | 20.50 |
| 16 | Fixed Deposit with Axis bank bearing FD no 920040055390805 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 17 | Fixed Deposit with Axis bank bearing FD no 920040055390177 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 18 | Fixed Deposit with Axis bank bearing FD no 920040055659168 |
15.00 | 29-Sep-21 | 0.37 | 5.15% | 15.37 |
| 19 | Fixed Deposit with Axis bank bearing FD no 920040055389180 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 20 | Fixed Deposit with Axis bank bearing FD no 920040055389698 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 21 | Fixed Deposit with Axis bank bearing FD no 920040055391057 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 22 | Fixed Deposit with Axis bank bearing FD no 920040055399750 |
19.99 | 23-Sep-21 | 0.51 | 5.15% | 20.50 |
| 23 | Fixed Deposit with Axis bank bearing FD no 920040055400232 |
19.99 | 23-Sep-21 | 0.51 | 5.15% | 20.50 |
| 24 | Fixed Deposit with Axis bank bearing FD no 920040055658907 |
15.00 | 29-Sep-21 | 0.37 | 5.15% | 15.37 |
| 25 | Fixed Deposit with Axis bank bearing FD no 920040055391332 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 26 | Fixed Deposit with Axis bank bearing FD no 920040055388569 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 27 | Fixed Deposit with Axis bank bearing FD no 920040055389397 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
|---|---|---|---|---|---|---|
| 28 | Fixed Deposit with Axis bank bearing FD no 920040055382545 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 29 | Fixed Deposit with Axis bank bearing FD no 920040055388051 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 30 | Fixed Deposit with Axis bank bearing FD no 920040055659845 |
10.00 | 29-Sep-21 | 0.25 | 5.15% | 10.25 |
| 31 | Fixed Deposit with Axis bank bearing FD no 920040055383344 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 32 | Fixed Deposit with Axis bank bearing FD no 920040055390957 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 33 | Fixed Deposit with Axis bank bearing FD no 920040055387375 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 34 | Fixed Deposit with Axis bank bearing FD no 920040055659670 |
15.00 | 29-Sep-21 | 0.37 | 5.15% | 15.37 |
| 35 | Fixed Deposit with Axis bank bearing FD no 920040055399815 |
19.99 | 23-Sep-21 | 0.51 | 5.15% | 20.50 |
| 36 | Fixed Deposit with Axis bank bearing FD no 920040055399459 |
19.99 | 23-Sep-21 | 0.51 | 5.15% | 20.50 |
| 37 | Fixed Deposit with Axis bank bearing FD no 920040055400164 |
19.99 | 23-Sep-21 | 0.51 | 5.15% | 20.50 |
| 38 | Fixed Deposit with Axis bank bearing FD no 920040055659528 |
15.00 | 29-Sep-21 | 0.37 | 5.15% | 15.37 |
| 39 | Fixed Deposit with Axis bank bearing FD no 920040055386738 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 40 | Fixed Deposit with Axis bank bearing FD no 920040055387090 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 41 | Fixed Deposit with Axis bank bearing FD no 920040055658367 |
15.00 | 29-Sep-21 | 0.37 | 5.15% | 15.37 |
| 42 | Fixed Deposit with Axis bank bearing FD no 920040055400313 |
19.99 | 23-Sep-21 | 0.51 | 5.15% | 20.50 |
|---|---|---|---|---|---|---|
| 43 | Fixed Deposit with Axis bank bearing FD no 920040055382804 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 44 | Fixed Deposit with Axis bank bearing FD no 920040055658147 |
15.00 | 29-Sep-21 | 0.37 | 5.15% | 15.37 |
| 45 | Fixed Deposit with Axis bank bearing FD no 920040055657438 |
15.00 | 29-Sep-21 | 0.37 | 5.15% | 15.37 |
| 46 | Fixed Deposit with Axis bank bearing FD no 920040055658606 |
15.00 | 29-Sep-21 | 0.37 | 5.15% | 15.37 |
| 47 | Fixed Deposit with Axis bank bearing FD no 920040055391536 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
| 48 | Fixed Deposit with Axis bank bearing FD no 920040055384224 |
19.90 | 23-Sep-21 | 0.51 | 5.15% | 20.41 |
- Where the market value is not feasible, provide NAV/NRV/Book Value of the same
(iv) Delay in implementation of the object(s):
| Object(s) | Completion Date | Completion Date | Delay (no. of days/ months) |
Comments of the Board of Directors |
Comments of the Board of Directors |
|---|---|---|---|---|---|
| As per the Offer Document |
Actual* | Reason of delay |
Proposed course of **action ** |
||
| Nil |
* In case of continuing object(s), please specify latest/revised estimate of the completion date.
Annexure 2
Repayment or pre-payment, in full or part, of certain borrowings of our Company
| (In millions) | |||
|---|---|---|---|
| Date of payment | Payment made to | Amount | Purpose of Payment |
| 19/09/2020 | HDFC Bank | 65.00 | Repayment of loan |
| 21/10/2020 | Kotak Bank | 90.00 | Repayment of loan |
| 25/10/2020 | Kotak Bank | 210.00 | Repayment of loan |
| Total | 365.00 | ||
| Annexure 3 |
Acquisitions and other strategic initiatives
| (In millions) | |||
|---|---|---|---|
| Date of payment | Payment made to | Amount | Purpose of Payment |
| 01/10/2020 | TeleDNA | 120.00 | Acquisition as per BTA agreement |
| 06/11/2020 | 365 Squared | 272.28 | Paid to Route Mobile UK as final payment for acquisition of 365 squared |
| 22/11/2020 | 365 Squared | 16.217 | |
| Total | 408.497 |