Mold-Tek Technologies Limited , a prominent player in the engineering services sector, has announced a strategic move to expand its global presence. The company's Board of Directors has approved two significant decisions that will shape its future in the international market.

Acquisition of Beryl Engineering Inc.

Mold-Tek Technologies has given the green light for an investment of up to USD 100,000 to acquire a 100% stake in Beryl Engineering Inc., a newly incorporated engineering services company based in Florida, USA. This acquisition will make Beryl Engineering a wholly-owned subsidiary of Mold-Tek Technologies.

Key details of the acquisition:

Strategic Loan Approval

In addition to the acquisition, Mold-Tek's Board has approved providing a loan of up to USD 4.00 million to Beryl Engineering. This financial support aims to facilitate strategic expansions and meet working capital requirements of the newly acquired entity.

About Beryl Engineering Inc.

Beryl Engineering Inc. is a nascent player in the engineering services sector:

Strategic Implications

This move represents a significant step in Mold-Tek's strategy to expand its footprint in global engineering services. By establishing a presence in the United States through Beryl Engineering, Mold-Tek Technologies aims to strengthen its position in the international market and potentially tap into new opportunities in the American engineering sector.

The acquisition and subsequent financial support demonstrate Mold-Tek's commitment to growth and its confidence in the potential of the newly acquired entity. As Beryl Engineering begins its operations under Mold-Tek's ownership, it will be interesting to observe how this strategic expansion unfolds and contributes to Mold-Tek's global ambitions in the engineering services domain.

Mold-Tek Technologies Limited , a prominent player in the technology sector, has reported a significant inter se transfer within its promoter group. The company announced that Mr. Subramanyam Adivishnu, a key promoter, has gifted a total of 10,00,000 equity shares to his children.

Transfer Details

The transfer involves the following:

• 5,00,000 shares gifted to Mr. Adivishnu Durga Sundeep (son)
• 5,00,000 shares gifted to Mrs. Lakshmi Mythri Adivishnu (daughter)

Each share has a face value of ₹2.00, making this a substantial transfer within the family.

Impact on Shareholding

This inter se transfer represents 3.50% of Mold-Tek Technologies' total share capital. However, it's important to note that this movement of shares does not alter the overall promoter group holding in the company. The promoter group continues to hold 49.39% of the total share capital, remaining unchanged after this internal transfer.

Company Share Capital

Mold-Tek Technologies Limited's equity share capital stands at 2,85,64,460 shares, each with a face value of ₹2.00.

Significance

This transfer is noteworthy as it represents a generational shift within the promoter group, potentially indicating succession planning within the Adivishnu family. Both recipients, Mr. Adivishnu Durga Sundeep and Mrs. Lakshmi Mythri Adivishnu, are already members of the promoter group, suggesting a continued commitment to the company's leadership.

While this transfer doesn't impact the overall promoter holding, it does redistribute a significant portion of shares within the family, which could have implications for future decision-making processes within the promoter group.

Investors and market watchers may view this development as a sign of the promoter family's long-term commitment to Mold-Tek Technologies Limited, as they continue to maintain their substantial stake in the company while planning for the future.