SoftTech Engineers Limited — Capital/Financing Update 2021

Aug 31, 2021

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To,

National Stock Exchange of India Limited Bandra-Kurla Complex Bandra (East) Mumbai – 400 051

31[st] August, 2021

Dear Sir/ Madam,

Scrip Code: SOFTTECH

Subject: Disclosure under regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015

It is to inform that the Company has signed Shareholders Agreement on 31[st] August, 2021 for acquisition of 15% stake in Singapore based Company, ‘Qi Square Private Limited’. Qi Square Private Limited, Singapore is engaged in the business of developing a digital platform for the built environment industry.

Details as required under regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 as read with SEBI circular no CIR/CFD/CMD/4/2015 dated September, 09, 2015 are given herein under.

Please take this on record.

Thanking you,

Yours Sincerely, For SoftTech Engineers Limited

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Aishwarya Patwardhan Company Secretary

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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:

Sr. No.	Particulars	Details
1.	Name of the target entity, details in briefsuch as size,turnover etc	Qi Square Pte Ltd, Singapore
2.	Whether the acquisition would fallwithin related party transaction(s) andwhether the promoter/ promoter group/group companies have any interest in theentity being acquired? If yes, nature ofinterest and details thereof and whetherthe same is done at “arms length”	This transaction does not fall under related partytransaction. The promoter/ promoter group/ groupcompanies do not have any interest in the entitybeing acquired.
3.	Industry to which the entity beingacquired belongs	Virtual Audits of energy performance assessment ofBuildings
4.	Objects and effects of acquisition(including but not limited to, disclosureof reasons for acquisition of target entity,if its business is outside the main line ofbusiness of the listed entity)	The basic object behind taking a stake in the targetentity is the potential synergy between their offeringand our product. The company may market both theproducts as a bundle for much better marketpenetration/ acceptance. Since output of our productbecomes the input of their offering, so a combinationof both can lead to unique solution offering to themarket.
5.	Brief details of any governmental orregulatory approvals required for theacquisition	NA
6.	Indicative time period for completion ofthe acquisition	The acquisition of predetermined % will becompleted before 24 months.
7.	Nature of consideration - whether cashconsideration or share swap anddetails of the same	Cash
8.	Cost of acquisition or the price at whichthe shares are acquired	Cost of acquisition:SGD 678,244.00 (In Words: Six Lakhs SeventyEight Thousand Two Hundred Forty Four SingaporeDollars Only)
9.	Percentage of shareholding/ controlacquired and / or number of sharesacquired	15% of Shareholding in the target company
10.	Brief background about the entityacquired in terms of products/line ofbusiness acquired, date of incorporation,history of last 3 years turnover, countryin which the acquired entity has presenceand any other significantinformation (in brief);	The Target Company is a Singapore based Companyengaged in the business of Virtual Audits of energyperformance assessment tools that capitalise ondigital building footprints and big data, VirtualAudits Live tool helps to continuously provideactionable energy performance insights based onlive operational data from buildings. The entity wasincorporated on 12thJune, 2017.Turnover for last 3 years:2018: Nil2019 : SGD 32,000/-2020 : SGD 2,47,563/-