September 5, 2022
To,
Manager - Listing Department,
National Stock Exchange of India Limited
Exchange Plaza, Plot No. C-1,
G Block, Bandra Kurla Complex,
Bandra East, Mumbai - 400 051
Subject: Intimation of closure of Wholly Owned Subsidiary of the Company under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
NSE Symbol - PANACHE
Dear Sir / Madam,
This is to inform you that, in continuation with the intimation filed by the Company on July 5, 2019, in relation to the closure of Wemart Global F.Z.E, Wholly Owned Subsidiary of the Company, please be informed that, the Company has today received the email communication with respect to cancellation of license vide its letter dated May 30, 2021 and accordingly, Wemat Global F.Z.E bearing license no. 20060 has ceased to be a subsidiary of the Company with effect from May 30, 2021.
Further, the details required under Regulation 30 of the SEBI Listing Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 is enclosed herewith as Annexure A.
Kindly take the above information on your records.
Thanking you,
Yours Faithfully,
For Panache Digilife Limited
CHHEDA
HARSHIL | Digitally signed by CHHEDA |
HARSHIL RAJESH | |
RAJESH | Date: 2022.09.05 19:02:13 +05'30' |
________________________ | |
Harshil Chheda | |
Company Secretary & Compliance Officer | |
Place: Mumbai | |
Encl.: As above |
Annexure A
Details as per Regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI Circular CIR/CFD/CMD/4/2015 dated 9th September, 2015
The amount and percentage of the turnover or | Amount & percentage of turnover in consolidated |
revenue or income and net worth contributed by | turnover of Panache Digilife Limited: Nil (0%) |
such unit or division of the listed entity during the | |
last financial year | Amount & percentage of net worth in consolidated |
figures of Panache Digilife Limited: Nil (0 %). | |
Date on which the agreement / proposal for sale | Not Applicable |
has been entered into | |
The expected date of completion of sale/disposal | The Effective date of closure is May 30, 2021. |
Note: The Company has today received an email communication for the | |
cancellation of license vide its communication letter dated | |
May 30, 2021. | |
Consideration received from such sale/disposal | Not Applicable as it is closure. |
Brief details of buyers and whether any of the | Not Applicable |
buyers belong to the promoter/ promoter | |
group/group companies. If yes, details thereof | |
Whether the transaction would fall within related | Not Applicable |
party transactions? If yes, whether the same is | |
done at "arm's length" | |
Additionally, in case of a slump sale, indicative | Not Applicable |
disclosures provided for amalgamation/merger, | |
shall be disclosed by the listed entity with respect | |
to such slump sale | |
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Panache Digilife Ltd. published this content on 05 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 September 2022 13:59:05 UTC.