Zen Technologies Ltd. — Capital/Financing Update 2022

Nov 16, 2022

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Date: 16[th] November 2022

To To BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Dalal Street Bandra Kurla Complex, Mumbai- 400001 Bandra (E), Mumbai – 400 051 Through: BSE Listing Centre Through: NEAPS Security Code: 533339 Symbol/Security ID: ZENTEC

Dear Sir/Madam,

Sub: Intimation of formation of a Wholly Owned Subsidiary

Ref: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

This is to inform you that our earlier letter dated 30[th] July 2022 i.e., Outcome of Board Meeting wherein the Board of Directors, have approved the authorization towards incorporation of a wholly-owned subsidiary in the United Arab Emirates (UAE), please be informed that the company has successfully formed a Wholly Owned Subsidiary Company namely “Zen Defence Technologies LLC” , a Limited Liability Company formed in the emirate of Abu Dhabi, UAE, on 15[th] November 2022.

Further, the details as required under the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 09[th] September 2015 is enclosed as Annexure- I.

The above information is also available on the website of the Company: https://www.zentechnologies.com/corporate-announcements

This is for your kind information and records.

Thanking You.

Yours sincerely,

For Zen Technologies Limited

HANSRA Digitally signed by HANSRAJ SINGH J SINGH Date: 2022.11.16 12:32:03 +05'30' Hansraj Singh Rajput Company Secretary & Compliance Officer M. No. F11438

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Annexure- I

S. No.	Particulars	Status / Remark
1.	Name of the target entity, details in brief such as size, turnover etc.	Name: Zen Defence Technologies LLC (Established vide Commercial License No. CN-4678842 dated 15thNovember 2022) Paid up Capital - AED 150,000 divided into 100 shares of AED 1500 each. Turnover Details: Nil. Since it’s a newly incorporated company (yet to commence business operations)
2.	Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”	The new entity is a Wholly Owned Subsidiary and hence it will be a related party of Zen Technologies Limited. Save and except above, no Promoters / Promoter Group / Group Companies are interested in the transaction.
3.	Industry to which the entity being acquired belongs	Zen Defence Technologies LLC will be into the business of training and simulation.
4.	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)	The business of Wholly Owned Subsidiary is in line with the main business of the holding company i.e., Training & Simulation.
5.	Brief details of any governmental or regulatory approvals required for the acquisition	Not Applicable
6.	Indicative time period for completion of the acquisition	Not Applicable
7.	Nature of consideration - whether cash consideration or share swap and details of the same	100% subscription to the share capital in cash

8.	Cost of acquisition or the price at which the shares are acquired	Not Applicable
9.	Percentage of shareholding / control acquired and / or number of shares acquired	100%
10.	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief)	As a newly incorporated company, the entity is yet to commence its operations and accordingly turnover details are not available.