Softtech Engineers Limited — Important, 06-12-2024: Agreements

SoftTech Engineers Limited has entered into a Share Purchase Agreement for the acquisition of Envee Information Technology Private Limited. The agreement involves the purchase of a total of 12,000 equity shares, representing 100% of the company's equity structure, with SoftTech Engineers acquiring 80% and Mr. Gaurav Waghmare holding the remaining 20%. Additionally, the Sellers will transfer 13,000 Compulsorily Convertible Preference Shares (CCPS), which will be converted into equity shares held by SoftTech Engineers. Notably, this transaction does not involve any related party transactions and is positioned as a strategic move to enhance SoftTech’s portfolio without incurring special rights or conflicts of interest. This acquisition could strengthen SoftTech’s market position and contribute to future growth prospects—investors should observe how this addition aligns with the overall strategic direction.