SoftTech Engineers Limited — Capital/Financing Update 2023

Apr 11, 2023

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Date: 11.04.2023

To,

National Stock Exchange of India Limited “Exchange Plaza”, C-1, Block – G Bandra – Kurla Complex Bandra (East), Mumbai – 400051 Symbol – SOFTTECH	BSE Limited Floor 25, Phiroze Jeejeebhoy Towers Dalal Street, Mumbai – 400001 Scrip Code: 543470

Subject: Intimation of formation of Step down subsidiary of SoftTech Engineers Limited.

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we hereby inform you that SoftTech Digital Pte. Ltd., subsidiary of SoftTech Engineers Limited (“Company”) has acquired subsidiary with name SoftTech Digital Software L.L.C in the Emirates of Dubai, UAE on 10[th] April, 2023.

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 are given herein under.

You are requested to kindly take the same on record.

Thanking you,

Yours Sincerely, For SoftTech Engineers Limited

AKANCHA Digitally signed by AKANCHA BHADANI BHADANI Date: 2023.04.11 12:27:54 +05'30' Akancha Bhadani Compliance Officer

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Details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as read with SEBI circular no CIR/CFD/CMD/4/2015 dated September, 09, 2015 for SoftTech Digital Software L.L.C.:

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Sr. Particulars Details
No.
1. Name of the target entity, details in brief SoftTech Digital Software L.L.C with a share
such as size, turnover etc. capital of 100,000 AED
Turnover: Nil (yet to start operations)
2. Whether the acquisition would fall The acquisition does not fall within related party
within related party transaction(s) and transaction.
whether the promoter/ promoter group/
group companies have any interest in the However, post incorporation SoftTech Digital
entity being acquired? If yes, nature of Software L.L.C would be a Related Party, being the
interest and details thereof and whether step down subsidiary of the Company
the same is done at “arms length”
3. Industry to which the entity being Software and Information Technology
acquired belongs
4. Objects and effects of acquisition Objects and effects of acquisition and formation of
(including but not limited to, disclosure Subsidiary:
of reasons for acquisition of target 1. International Market Penetration of SoftTech’s
entity, if its business is outside the main Products Established in India
line of business of the listed entity) 2. Creating Sales and Implementation Network in
Middle East and neighbouring areas.
3. Creating Strategic Partnerships / Business
Arrangements to sell its products and Services to
regions managed and operated by this Subsidiary
Business of the Subsidiary is in line with the main
business activities of the Company.
5. Brief details of any governmental or Necessary approvals are taken from the designated
regulatory approvals required for the regulatory authority in the jurisdiction for
acquisition incorporation of the Company.
6. Indicative time period for completion of NA
the acquisition
7. Nature of consideration - whether cash Cash
consideration or share swap and
details of the same
8. Cost of acquisition or the price at which SoftTech Digital Pte. Ltd. has subscribed 100,000
the shares are acquired shares of AED 1.00 each equivalent to AED
100,000 of the subsidiary.
9. Percentage of shareholding/ control 100% subscription to the share capital by SoftTech
acquired and / or number of shares Digital Pte. Ltd.
acquired
10. Brief background about the entity SoftTech Digital Software L.L.C is incorporated in
acquired in terms of products/line of Emirates of Dubai, UAE on 10 [th] April, 2023 and the
business acquired, date of incorporation, will deal in Software and Information Technology.
history of last 3 years turnover, country However, the Company is yet to commence its
in which the acquired entity has business operations.
presence and any other significant
information (in brief);
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