Trident Ltd — Capital/Financing Update 2022

Dec 1, 2022

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TRIDENT/CS/2022 December 1, 2022

Na�onal Stock Exchange of India Limited

Exchange Plaza, Plot No. C/1, G Block Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Scrip Code: TRIDENT

BSE Limited

Phiroze Jeejeebhoy Towers Dalal Street, Mumbai – 400 001 Scrip Code: 521064

Sub: Acquisi�on of Subsidiary by Trident Limited

Dear Sir/ Madam,

The Financial Management Commi�ee of the Company in its mee�ng held on December 1, 2022 has approved the:

1. Acquisi�on of 100% equity share capital of Trident Home Tex�les Limited.

2. Indirect acquisi�on of Trident Global, Inc. i.e. Trident Home Tex�les Limited holds 24.5% shareholding of Trident Global, Inc., therefore, due to the acquisi�on of Trident Home Tex�les Limited the Company shall hold 73.5% shareholding of Trident Global, Inc. (Direct holding 49% and Indirect holding 24.5%).

Disclosures as required under Regula�on 30 of the SEBI (Lis�ng Obliga�ons and Disclosure Requirements) Regula�ons, 2015 and SEBI Circular no. CIR/CFD/CMD/4/2015 dated September 9, 2015 are provided as Annexure-I and Annexure - II .

This is for your informa�on & records please.

Thanking you, Yours faithfully, For Trident Limited HARI Digitally signed by HARI KRISHAN KRISHAN Date: 2022.12.01 17:52:40 +05'30'

(Hari Krishan) Company Secretary

Enclosed: As above

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01/12/2022

TL/2022/028245

Annexure-I

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Disclosures as required under Regula�on 30 of the SEBI (Lis�ng Obliga�ons and Disclosure Requirements) Regula�ons, 2015 and SEBI Circular no. CIR/ CFD/CMD/4/2015 dated September 9, 2015

2015
S. No.	Details of Events that need to be provided		Informa�on of such Events
1	Name of the Target En�ty		Trident Home Tex�les Limited (in short ‘THTL’)
2	Details in brief such as size, turnover, etc.		The paid-up capital of THTL is INR 500,000/- Turnover of THTL – Nil
3	Whether the Acquisi�on would fall within related party transac�on(s) and whether the promoter/promoter group/group companies have any interest in the en�ty being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”		The acquisi�on will fall within related party transac�ons. Trident Home Tex�les Limited is Enterprise under common control. The promoter/promoter group of the Company have interest in the Company being acquired and the acquisi�on is done at fair value of equity share at “arm’s length”.
4	Industry to which the en�ty being acquired belongs		Tex�le Business
5	Objects and efects of acquisi�on (including but not limited to, disclosure of reasons for acquisi�on of target en�ty, if its business is outside the main line of Business of the listed en�ty)		The Company proposes to acquire the said “Target En�ty” for implementa�on of forward integra�on of opera�ons and Consolida�on of Interna�onal business.
6	Brief details of any governmental or regulatory approvals required for the acquisi�on		Not Applicable
7	Indica�ve �me period for comple�on of the acquisi�on		Defni�ve agreement has been executed and Share Transfer shall be completed in due course.
8	Nature of considera�on – whether Cash considera�on or share swap and details of the same		Cash Considera�on.
9	Cost of acquisi�on or the price at which the shares are acquired		The cost of acquisi�on shall be the fair value of equity shares.
10	Percentage of Shareholding/ Control Acquired/ or No. of Shares Acquired		% of Shareholding		100%
			Control Acquired		Wholly owned Subsidiary
			No. of Shares Acquired		50,000 Equity Shares
11	Brief background about the En�ty Acquired in terms of products/line of business acquired, Date of Incorpora�on, History of last 3 years turnover, Country in which the acquired en�ty has presence and any other signifcant informa�on (in brief)		THTL, incorporated on 18/01/2011 is primarily incorporated to carry on the business of Tex�le & not yet started its commercial opera�ons, and is having its registered ofce in Sanghera, Punjab. Turnover of the Companyduringlast 3years is as follow: Par�culars FY2019-20 FY2020-21 FY2021-22 Turnover NIL NIL NIL
			Par�culars	FY2019-20	FY2020-21	FY2021-22
			Turnover	NIL	NIL	NIL

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01/12/2022

TL/2022/028245

Annexure-II

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Disclosures as required under Regula�on 30 of the SEBI (Lis�ng Obliga�ons and Disclosure Requirements) Regula�ons, 2015 and SEBI Circular no. CIR/ CFD/CMD/4/2015 dated September 9, 2015

S. No.	Details of Events that need to be provided	Informa�on of such Events	Informa�on of such Events
1	Name of the Target En�ty	Trident Global, Inc. (in short ‘TGI’)
2	Details in brief such as size, turnover, etc.	The paid-up capital of TGI: USD 50,000/- Turnover of TGI as on 31/03/2022: USD 94,86,307/-
3	Whether the Acquisi�on would fall within related party transac�on(s) and whether the promoter/promoter group/group companies have any interest in the en�ty being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”	The acquisi�on will fall within related party transac�ons. Trident Global, Inc. is an associate of Trident Limited. The promoter/promoter group of the Company have interest in the Company being acquired and the acquisi�on is done at fair value of equity share at “arm’s length”.
4	Industry to which the en�ty being acquired belongs	Tex�le Business
5	Objects and efects of acquisi�on (including but not limited to, disclosure of reasons for acquisi�on of target en�ty, if its business is outside the main line of Business of the listed en�ty)	The Company proposes to acquire the said “Target En�ty” for forward integra�on of Interna�onal business.
6	Brief details of any governmental or regulatory approvals required for the acquisi�on	Not Applicable
7	Indica�ve �me period for comple�on of the acquisi�on	Not Applicable
8	Nature of considera�on – whether Cash considera�on or share swap and details of the same	Cash Considera�on.
9	Cost of acquisi�on or the price at which the shares are acquired	The cost of acquisi�on shall be the fair value of equity shares.
10	Percentage of Shareholding/ Control Acquired/ or No. of Shares Acquired	% of Shareholding	73.5%
		Control Acquired	Subsidiary
		No. of Shares Acquired	36,750 Common Stock

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11 Brief background about the En�ty Acquired in terms of products/line of business acquired, Date of Incorpora�on, History of last 3 years turnover, Country in which the acquired en�ty has presence and any other significant informa�on (in brief)

Trident Global, Inc. is a Company incorporated on March 26, 2003 in USA. It is engaged in the business of Trading of Tex�les and operates as a liaison office and has been incorporated as to work as an extended arm of Trident Limited to serve consumers and gather market intelligence in the US Region. Turnover of the Company during last 3 years is as follow: Par�culars FY2019-20 FY2020-21 FY2021-22 Turnover 33,67,635 53,41,261 94,86,307 (USD)

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01/12/2022

TL/2022/028245