News Announcement

Advanced Enzyme Technologies: Announcement under Regulation 30 (LODR)-Acquisition

we hereby inform that the Board of Directors of the Company at its said meeting held on November 11 2022 inter alia approved the following:A)Acquisition of 50% stake of SAIGANESH ENZYTECH SOLUTIONS PRIVATE LIMITED by way of subscription to the issue of upto 19 991 663 Equity Shares as may be offered on private placement/preferential issue basis by SESPL at a total consideration not exceeding Rs. 60 million and authority for signing of Share Purchase Agreement in this regardB)Acquisition of an additional stake of upto 4.83% of JC Biotech Private Limited (existing 85% subsidiary) by way of purchase of upto 1 000 000 Equity Shares from one of the existing shareholder of JC Biotech at a total consideration not exceeding Rs. 68 millionC)Conversion of loan including interest as was earlier granted by the Company to Advanced Enzymes Europe B.V. Netherlands an existing wholly owned subsidiary of the Company into Equity Shares of AEE (further acquisition of equity shares in AEE)

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