Trident Limited — Important, 14-12-2024: Sale or disposal

The Board of Trident Limited has given in-principle approval to restructure its overseas subsidiary structure, involving the sale of its shareholding in Trident Global Inc. (USA) and Trident Europe Limited (UK) to its wholly owned subsidiary, Trident Group Enterprises Pte. Ltd., Singapore. This move aims to simplify the subsidiary structure and reduce governance costs. Additionally, the Board has proposed acquiring THTL Trading L.L.C. in Dubai, a new step-down subsidiary. Funding totaling approximately USD 10 million will be infused into Trident Group Enterprises Pte. Ltd. to facilitate both the acquisition and further global business expansion, including diversification and setting up global operations. The expected completion for these transactions is slated for March 31, 2025, pending regulatory approvals. Overall, this restructuring initiative could offer a positive outlook for Trident's growth and operational efficiency moving forward.