Control Print Limited announced that the Company have incorporated on March 25, 2023 its Wholly Owned Subsidiary (WOS) in the name of "CONTROL PRINT Packaging PRIVATE Limited" (CPPPL). The CPPPL is being incorporated pursuant to execution of Joint Venture Agreement dated December 8, 2022 between Control Print Ltd. & V Shapes to carry business of production, sale and marketing of the packaging machines & packaging materials etc. in India and the same was duly intimated to the Stock Exchanges.

The compliances of terms and conditions of JV Agreement dated December 8, 2022 will be done in due course. Name of the target entity, details in brief such as size, turnover: Control Print Packaging Private Limited Authorised Share Capital INR 15,00,000, Subscribed Capital INR 15,00,000. Industry to which the entity being acquired belongs: Manufacturing of Packaging Machines and Packaging Material.

Objects and effects of acquisition: The object of the CPPPL is to carry business of production, sale and marketing of the packaging machines & packaging materials etc. Nature of consideration - whether cash consideration or share swap and details of the same: CPPPL has been incorporated with initial capital of 15,00,000 in cash. CPPPL has been incorporated with authorized capital of 1,50,000 equity shares of INR 10 each aggregating to INR 15,00,000.

The entire paid-up share capital will be held by the Company.