The board of directors of Cambridge Technology Enterprises Limited at its meeting held on April 15, 2024, has approved the incorporation of a wholly owned subsidiary of the company under the name N2T1 AI Solutions Private Limited or any other name with the captions N2T1 or such other name as may be decided by the management of the Company and as approved by statutory authorities. Proposed Authorized Capital - INR 10,00,000, Proposed Paid up Capital - INR 1,00,000. The proposed company to be incorporated in India will be carrying the business related to information technology, artificial intelligence and other technologies related services and the same is not outside the main line of business of the company.

The proposed incorporation may take approximately two Months. 100% Subscription to the initial Share Capital of proposed company shall be in cash. The proposed wholly owned subsidiary will be incorporated with an initial subscription of INR 100,000/- i.e., 10000 Equity shares of face value of INR 10/- each.