PDS Limited has proposed to acquire an equity stake of 75% in Wonderwall (F.E) Limited.

 

PDS Limited has proposed to acquire an equity stake of 75% in Wonderwall (F.E) Limited (“Investee Company”), a Company incorporated under the laws of Hong Kong.

The additional details regarding aforesaid acquisition in lines with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, is enclosed as Annexure-A

Annexure A

 

Disclosure for the acquisition of Wonderwall (F.E) Limited by Subsidiary of the Company, Simple Approach Limited

 

Sl. No.	Particulars in respect of the Event	Details/Information of the Event
1	Name of the target entity, details in brief such as size, turnover etc.	Wonderwall (F.E) Limited   Size: Issued Share Capital is HKD 1 (Hong Kong Dollars 1 Only) consisting of 1 Ordinary Shares of HKD 1 each.   Turnover: NA PAT: NA Networth: NA
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”	No
3	Industry to which the entity being acquired belongs.	Fashion and Apparel Industry
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)	To expand the business in the global knitwear & footwear category.
5	Brief details of any governmental or regulatory approvals required for the acquisition.	No governmental or regulatory approval required.
6	Indicative time period for completion of the acquisition.	On or before April 30, 2023
7	Nature of Consideration	Cash Consideration
8	Cost of acquisition or the price at which the shares are acquired.	Rs. 32 approx. [equivalent to ≈ HKD 3]

 

 

9	Percentage of shareholding/control acquired and/or number of shares acquired.	75% shareholding.
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.	Wonderwall (F.E) Limited is a Company incorporated under the provisions of the Companies Ordinance (Cap 622), in Hong Kong, having its registered office at 9/F., Surson Commerical Building, 140-142 Austin Road, Tsimshatsui, Kowloon, Hong Kong.
		The Company is engaged in the business of sales, marketing, design, sourcing, and distribution operations of knitwear, footwear and other opportunities.
		The Company has been incorporated in Hong Kong on February 14, 2022.
		Disclosure of turnover for last 3 (three) years: NA
		Countries of presence: Hong Kong, United Kingdom, Bangladesh.