February 11, 2022 | |
To, | To, |
Corporate Relationship Department, | The Listing Department, |
BSE Limited | National Stock Exchange of India Ltd |
Phiroze Jeejeebhoy Towers, | Exchange Plaza, Plot No/C/1, G Block |
Dalal Street, | Bandra Kurla Complex, Bandra (East), |
Mumbai - 400 001 | Mumbai - 400 051 |
Dear Sir, |
Sub: Restructuring of Step Down Subsidiaries.
Ref: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
We wish to inform you that the Board of Directors at its meeting held today i.e., February 11, 2022 has inter-alia, considered and approved the following:
Transfer of Cambridge Innovation Capital LLC and Cambridge Biz Serve Inc., wholly owned subsidiaries of the Cambridge Technology Inc and wholly owned step down subsidiaries of the Company to Cambridge Technology Investments Pte Ltd., another wholly owned subsidiary of the Company as may be permitted under applicable laws of the host country(ies) in which the respective Subsidiaries of the Company is/are incorporated.
The said transfer is subject to applicable laws of the host country i.e., USA, Singapore and Philippines in which the respective Subsidiaries of the Company is/are incorporated, and approvals, if any, of Board of Directors or Shareholders of the respective Subsidiaries of the Company.
The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 are given below:
a) Details of restructuring; | Presently Cambridge Technology Inc., USA, Wholly Owned | |||||
subsidiary of the Company have two Wholly Owned | ||||||
Subsidiaries i.e., Step Down Subsidiaries to Company as | ||||||
following: | ||||||
1. Cambridge Innovation Capital LLC., USA | ||||||
2. Cambridge Biz Serve Inc., Philippines | ||||||
The said Step Down Subsidiaries are proposed to be | ||||||
transferred to Cambridge Technology Investments Pte. | ||||||
Ltd., Singapore, another Wholly Owned Subsidiary of the | ||||||
Company. | ||||||
b) Reason for restructuring | The said Step Down Subsidiaries are being transferred for | |||||
operational and administrative convenience | ||||||
c) Quantitative and/ | or Qualitative | There is no quantitative and/or qualitative effect of the | ||||
effect of restructuring; | above said restructuring. Further, on a consolidated level, | |||||
there is no effect of the said restructuring as Cambridge | ||||||
Innovation Capital LLC and Cambridge Biz Serve Inc will still | ||||||
remain as wholly owned step down subsidiaries of the | ||||||
Company. | ||||||
Registered & Corporate Office: | ||||||
Cambridge Technology Enterprises Limited | Bengaluru | Mumbai | Chennai | |||
Unit No 04 - 03, Level 4, Block 1 | 91 Springboard Business Hub Pvt Ltd, 4th | Level 4, A Wing, Dynasty Business | AMARA SRI, situated at old No: | |||
Cyber Pearl, Hitec City, Madhapur | Floor, #175 & #176, Dollars Colony, Phase 4, | Park Andheri Kurla Road, Andheri | 313, New No: 455, Block No: 75, | |||
Hyderabad - 500 081, Telangana, India. | JP Nagar, Bannerghatta Main Road, | (E) Mumbai - 400 059, | 7th floor, Anna Salai Teynampet, | |||
Tel:+91-40-4023-4400 | Bengaluru - 560 076, Karnataka, India. | Maharashtra, India. | Chennai 600018, Tamilnadu, | |||
Fax:+91-40-4023-4600 | Tel: +91-80-4633-4400 | Tel:+91-22-6786-9410 | India | |||
Email id: investors@ctepl.com | Fax:+91-80-4299-5779 | Fax:+91-22-6786-9199 | Tel: 040-40234400 | |||
CIN: L72200TG1999PLC030997 | www.ctepl.com | |||||
d) Details of benefit, if | any, to | the | Not Applicable | ||
promoter/promoter | group/group | ||||
companies | from | such | proposed | ||
restructuring; | |||||
e) Brief | details | of | change | in | Presently Cambridge Technology Inc., Wholly Owned |
shareholding pattern (if | any) of | all | Subsidiary of the Company holds 100% shares of | ||
entities. | Cambridge Innovation Capital LLC and Cambridge Biz Serve | ||||
Inc. Pursuant to the said transfer, Cambridge Technology | |||||
Investments Pte. Ltd., Wholly Owned Subsidiary of the | |||||
Company will hold 100% shares in Cambridge Innovation | |||||
Capital LLC and Cambridge Biz Serve Inc. |
Thanking you,
Yours faithfully,
For Cambridge Technology Enterprises Limited
ASHISH BHATTAD
Digitally signed by ASHISH BHATTAD Date: 2022.02.11 18:44:02 +05'30'
Ashish Bhattad
Company Secretary & Compliance Officer
M. No. A34781
Registered & Corporate Office: | ||||
Cambridge Technology Enterprises Limited | Bengaluru | Mumbai | Chennai | |
Unit No 04 - 03, Level 4, Block 1 | 91 Springboard Business Hub Pvt Ltd, 4th | Level 4, A Wing, Dynasty Business | AMARA SRI, situated at old No: | |
Cyber Pearl, Hitec City, Madhapur | Floor, #175 & #176, Dollars Colony, Phase 4, | Park Andheri Kurla Road, Andheri | 313, New No: 455, Block No: 75, | |
Hyderabad - 500 081, Telangana, India. | JP Nagar, Bannerghatta Main Road, | (E) Mumbai - 400 059, | 7th floor, Anna Salai Teynampet, | |
Tel:+91-40-4023-4400 | Bengaluru - 560 076, Karnataka, India. | Maharashtra, India. | Chennai 600018, Tamilnadu, | |
Fax:+91-40-4023-4600 | Tel: +91-80-4633-4400 | Tel:+91-22-6786-9410 | India | |
Email id: investors@ctepl.com | Fax:+91-80-4299-5779 | Fax:+91-22-6786-9199 | Tel: 040-40234400 | |
CIN: L72200TG1999PLC030997 | www.ctepl.com | |||
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
CTE - Cambridge Technology Enterprises Limited published this content on 11 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 February 2022 13:27:03 UTC.