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Trident Ltd — Capital/Financing Update 2023
Sep 6, 2023
59305_rns_2023-09-06_182b76c9-c173-4df8-9e64-bd621a05f124.pdf
Capital/Financing Update
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TRIDENT/CS/2023 September 06, 2023
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: Disclosure under Regula�on 30 of the Securi�es & Exchange Board of India (Lis�ng Obliga�on and Disclosure Requirements) Regula�ons, 2015 with respect to sale of stake in subsidiary
Dear Sir / Madam,
In con�nua�on to outcome of Board Mee�ng held on July 27, 2023 and further pursuant to Regula�on 30 of SEBI (Lis�ng Obliga�on and Disclosure Requirements) Regula�ons, 2015, we hereby inform that the agreement for sale of equity shares of Trident Global Corp Limited (“TGCL”) has been executed between Trident Limited (“Seller”) and Lotus Hometex�les Limited (“Buyer”) on September 06, 2023
TGCL is Subsidiary of Trident Limited and post execu�on of the transac�on as per the above referred agreement, TGCL will cease to be subsidiary of Trident Limited.
The Disclosure in terms of the SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023 is as under:-
| Sr. No. | Par�culars | Details |
|---|---|---|
| 1 | The amount and percentage of the turnover or revenue or | Turnover: INR 3,493 Million |
| income and net worth contributed by such unit or division or | % of turnover: 5.5% | |
| undertaking or subsidiary or associate company of the listed | Net Worth: INR 574 Million | |
| en�ty during the last fnancial year | ||
| 2 | Date on which the agreement for sale has been entered into | September 06, 2023 |
| 3 | The expected date of comple�on of sale/ disposal | On or Before October 06, 2023 |
| 4 | Considera�on received from such sale/ disposal | INR 36.55 crore |
| 5 | Brief details of buyers and whether the buyers belong to the | Lotus Home Tex�les Limited (LHTL) (a Company |
| promoter/ promoter group | incorporated in India under the Companies Act, 2013 | |
| No, Buyer is not related to promoter/promoter group |
Disclaimer :- The details of the authorised signatories are uploaded on the official website of the Company. You may authenticate the authority of the signatory before relying upon the contents of this communication by visiting https://www.tridentindia.com/authority-matrix/ or may write to us on [email protected].
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06/09/2023
TL/2023/038297
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| 6 | Whether the transac�on would fall within related partytransac�on | No |
|---|---|---|
| 7 | Whether the same is done at “arm’s length” | Not Applicable |
| 8 | Whether the sale/ disposal is outside the scheme of | Yes, the said sale is outside Scheme of Arrangement. |
| arrangement? If yes, details of the same includingcompliance with Regula�on 37A of LODR regula�ons. | Therefore, compliance under regula�on 37A of LODRis not applicable in this transac�on. | |
| 9 | Addi�onally, in case of slump sale, indica�ve disclosuresprovided for amalgama�on/ merger, shall be disclosed bythe listed en�ty with respect to such slump sale. | Not Applicable |
This is for your kind informa�on & records please.
Yours faithfully For Trident Limited
MATTA Digitally signed by ARAVIND MATTA ARAVIND KUMAR Date: 2023.09.06 17:55:19 KUMAR +05'30'
[Ma�a Aravind Kumar] Company Secretary
Disclaimer :- The details of the authorised signatories are uploaded on the official website of the Company. You may authenticate the authority of the signatory before relying upon the contents of this communication by visiting https://www.tridentindia.com/authority-matrix/ or may write to us on [email protected].
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06/09/2023
TL/2023/038297