Board of Nazara Technologies approves preferential issue of shares and investment in subsidiary

At meeting held on 04 March 2022

The Board of Nazara Technologies at its meeting held on 04 March 2022 has approved issuance of upto 1,10,617 Equity Shares of face value of Rs. 4/- each of the Company, at an issue price of Rs. 2,260 /- per Equity Share aggregating to Rs 24.99 crore to Senthil Govindan, Arunprabu K, Mayank Khirwadkar, Garale Vishal Tukaram (Sellers), existing shareholders of Datawrkz Business Solutions Private Limited, as consideration other than cash, towards discharge of part purchase consideration for acquisition of 22,499 equity shares of Re 1/- each of Datawrkz Business Solutions pursuant to Investment Agreement dated 18 January 2022, on preferential basis.

Post completion of this acquisition, the Company will hold 33% equity stake, on fully diluted basis, in Datawrkz Business Solutions.

The Board also in-principally approved further investment in equity shares of Next Wave Multimedia (subsidiary of the company), for an amount upto Rs. 10 crore. Accordingly, the Company will be making an investment of upto Rs 30 crore in Next Wave by way of subscription to further equity shares. The Company shall update the Exchange at the time of actual investments.

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