Protean eGov Technologies Limited approved Incorporation of a 100% subsidiary company in UAE as the holding Company for international business. name of the target entity, details in brief such as size, turnover etc. name of the target entity, details in brief such as size, turnover: The Company will make the application to UAE regulatory authority for procuring name of the Company.

The proposed investment in the subsidiary will be through subscription to memorandum. industry to which the entity being acquired belongs: IT/ITeS, To undertake IT/ITeS projects across multiple countries. brief details of any governmental or regulatory approvals required for the acquisition: Approvals as required under UAE applicable and relevant laws in force.

indicative time period for completion of the acquisition: Expected to be incorporated over next 2-3 quarters. cost of acquisition and/or the price at which the shares are acquired: Equity investment upto INR 10 Million. percentage of shareholding /control acquired and /or number of shares acquired: 100 %.