SoftTech Engineers Limited — Capital/Financing Update 2018

Nov 22, 2018

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SoftTech Engineers Limited Forms Subsidiary in the State of Delaware

22[nd] November, 2018:

Details as required under SEBI( Listing Obligation and Disclosure Requirements) Regulations, 2015 as read with SEBI circular no CIR/CFD/CMD/4/2015 dated September, 09, 2015

Details of SoftTech Engineers Inc ;

Sr. No.	Particulars	Details
1.	Name of the target entity, details inbrief such as size, turnover etc	SoftTech Engineers Inc**Paid up capital:**USD 8000- 8,00,000 sharesof one cent each.**Turnover: **Nil
2.	Whether the acquisition would fallwithin related party transaction(s)and whether the promoter/ promotergroup/ group companies have anyinterest in the entity being acquired?If yes, nature of interest and detailsthereof and whether the same isdone at“armslength”	Yes the transaction is falling under relatedparty transaction.Mr. Vijay Gupta and Mrs. Priti Gupta are theCommon directors and the investment is doneat face value.
3.	Industry to which the entity beingacquired belongs	Information service
4.	Objects and effects of acquisition(includingbutnotlimitedto,disclosure ofreasons for acquisition of targetentity, if its business is outside themain line ofbusiness of the listed entity)	Objects and effects of acquisition andformation of Subsidiary:1. Market Penetration of SoftTech’s ProductsEstablished in India2.CreatingSalesandImplementationNetwork in US for North American Market3. Creating Strategic Partnerships / BusinessArrangements to sell its products andServices to USBusiness of the Subsidiary is in line with themainbusiness activities ofthe Company.
5.	Brief details of any governmental orregulatory approvals required for theacquisition	Not applicable
6.	Indicativetimeperiodforcompletionofthe acquisition	Completion of acquisition on 21.11.2018
7.	Nature ofconsideration -whether	cash

	cash consideration or share swapanddetails ofthe same
8.	Cost of acquisition or the price atwhichthe shares are acquired	USD 8000 equivalent to Rs. 6,08,424.45/-
9.	Percentage of shareholding/ controlacquired and / or number of sharesacquired	98.76% of total paid up share capital is heldby the Company
10.	Brief background about the entityacquired in terms of products/line ofbusinessacquired,dateofincorporation, history of last 3 yearsturnover, country in which theacquired entity has presence and anyother significantinformation (in brief);	SoftTechEngineersInc-Subsidiaryisincorporated in the state of Delaware on 17thSeptember, 2015.It has NIL turnover in last 3 years.Subsidiaryisformedwithfollowingobjectives:1. Market Penetration of SoftTech’s ProductsEstablished in India2.CreatingSalesandImplementationNetwork in US for North American Market3. Creating Strategic Partnerships / BusinessArrangements to sell its products andServices to US