Outcome of board meeting of Advanced Enzyme Technologies

16 Nov 2022 , 01:34 AM

The Board of Advanced Enzyme Technologies at its meeting held on 11 November 2022 has approved the acquisition of 50Percentage stake of SAIGANESH ENZYTECH SOLUTIONS CIN U01100MP2022PTC063261 [SESPL] by way of subscription to the issue of upto 19991663 equity shares as may be offered on private placementpreferential issue basis by SESPL at a total consideration not exceeding Rs 6 crore The Board also approved the acquisition of an additional stake of upto 483Percentage of JC Biotech existing 85Percentage subsidiary [JC Biotech] by way of purchase of upto 1000000 equity shares from one of the existing shareholder of JC Biotech at a total consideration not exceeding Rs 68 crore The Board approved the conversion of loan including interest as was earlier granted by the Company to Advanced Enzymes Europe BV Netherlands an existing wholly owned subsidiary of the Company [AEE] into equity shares of AEE further acquisition of equity shares in AEE