Varroc Engineering Limited — M&A Activity 2020

Mar 4, 2020

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	SIno.	Details	Information
	a)	Nameofthe entlty(ies) forming partof	1.Transferor Company: Aries Mentor Holding B.V.
		the amalgamation/merger, details in	("AMHBV")
		briefsuchas,size,turnover etc
			_:l._Transferee Company: VarrocCorp HoldingB.V.
			("VCHBV")
			3.Profit/LossasonMarch31,2019 (in Euro):
			AMHBV: (1,22,218)
			VCHBV:89,27,000
	b)	Whether the transaction would fall	No
		within related party transactions?If
		yes,whether thesameisdone at
		"arms length"
	c)	Areaofbusinessofthe entity(ies) ·	Transferor CompanyandTransferee Companyactas
			Investment Subsidiaries.
	d)	Rationaleforamalgamation/ merger	(i) Rationalizing subsidiary in the group to ensure
			optimize legal entity structure more aligned with the
			businessbyreducing the numberoflegal entities and
			reorganizinginthe group structuresoasto obtain cost
			savingsand/or simplification benefits;
			(ii) Significant reductioninthe multiplicityoflegaland
			regulatory compliances required at presenttobe
			carried outbyboth the Companiesinthe Netherlands;
			(iii) Eliminationofadministrative functions and
			multiple record-keeping, thus resultinginreduced
			expenditure;
			(iv) Creationoffocused platformforfuture growthof
			the Company; and
			(v)Management focusandenhanced flexibility.
	e)	Incaseofcashconsideration - amount	Not Applicable
		orotherwise share exchange ratio.
	f)	Brief detailsofchangeinshareholding	There willbenochangeinshareholding pattern of the
		pattern(ifany) oflisted entity	Company.

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