Globe Textiles India : Capacity addition/product launch

LEI	number:	335800UAAS6QEMMIZL77
Regd.	Office	Unit
Plot

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Gujarat-INDIA.

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Tel. : [phone] To 1885

( India )

Ltd.

Email:[e-mail],

To,

2022
National	Stock	Exchange	Limited
Exchange	Plaza,	Bandra	-	Kurla

Date: March 25,

Bandra (East),

Mumbai - 400 051

Dear Sir,

Complex,Sub: Outcome of Board Meeting

NSE Symbol: GLOBE

This is to inform you under Regulation 30 and any other Regulation of SEBI (Listing

Obligations and Disclosure Requirements)

Regulations, 2015 that a meeting of the

Board of Directors of the Company was held on Friday, March 25, 2022 at

the

registered office of the Company and the said meeting commenced at 04.30 p.m. and concluded at 06.25 p.m.

The following matters were decided by the Board:

1. Considered

existing

to

execute

manufacturing

the unit

Business

Transfer

Agreement

for

acquiring

the

of

M/s.

Vivaa

Tradecom

Private

Limited,

which

is

2.

house.
Considered	the	Yogesh	(DIN:
00468732)	an	four

engaged in the business of manufacturing/job work of garments and processing of fabrics. The proposed acquisition will be subject to proper due diligence. Consequence to this acquisition, the company will have enhanced garments stitching capacity as well as its own process

re-appointment

of Mr.

Kanhiyalal

Vaidya

as

Independent Director of the Company for a second term of

(4) years with effect from March 25, 2022, subject to approval of shareholders of the Company.

• 3. Considered the re-appointment of Mr. Bharat Shamjibhai Patel (DIN: 00243783) as an Independent Director of the Company for a second term of five (5) years with effect from March 25, 2022, subject to approval of shareholders of the Company.

  The details as per the requirement of Regulation 30 of SEBI (Listing Obligations

and

CIR/CFD/CMD/ given in Annexure 1.

Disclosure

Requirements)	Regulations,	2015
4/2015 dated 9th	September,	2015

read withSEBI

Circular

for Change in Directorship is

Unit 1

Unit 2

Unit

:	No.03,
:	Shed	No.	Shri
No.	24

Matia Estate, Behind National Transport, Piplej-Pirana Road, Piplej, Ahmedabad - 382405, Gujarat-INDIA.

Shri Shakti Estate & Warehouse, Piplej-Pirana Road, Saijpur-Gopalpur, Piplej, Anmedabad - 382405, Gujarat - INDIA.

Corporate Identity Number [CIN] :

L65910GJ1995PLC027673

LEI number: 335800UAA56QEMMIZL77

Regd. Office & Unit :

Globe Textiles

( India ) Ltd.

Please take the same on your record.

Thanking you,

Yours faithfully,

For, Globe Textiles (India) Limited

Bhavik Suryakant Parikh Managing Director

DIN: 00038223

Encl. as above

Unit	1	:	No.03,
Unit	2:	Shed	No.	Shri
Unit	3	:	Shed	No.	24

Gujarat-INDIA.

Tel. : [phone] To 1885 Email:[e-mail],

Matia Estate, Behind National Transport, Piplej-Pirana Road, Piplej, Ahmedabad - 382405, Gujarat-INDIA.

Shakti Estate & Warehouse, Piplej-Pirana Road, Saijpur-Gopalpur, Piplej, Anmedabad - 382405, Gujarat - INDIA.

Shri Shakti Estate & Warehouse, Piplej-Pirana Road, Saijpur-Gopalpur, Piplej, Anmedabad - 382405, Gujarat - INDIA.

LEI	number:	335800UAAS6QEMMIZL77
Regd.	Office	Unit
Plot

Globe Textiles

( India ) Ltd.

Annexure 1

Information as required under Regulation 30

Disclosure

Requirements

Regulations

of the SEBI

2015

CIR/CFD/CMD/4/2015 dated September 09, 2015

read

1) Acquisition (including agreement to acquire):

Name of entity and brief details

Whether

the

acquisition	would
transaction(s)	and	whether the
group	companies

fall

within

have

yes,

nature of interest whether the same is industry to which belongs

and	details	thereof
done	at	"arm's	length"
the

related party promoter/ promoter group/ any interest in the entity being acquired? If

and

entity being acquired

objects and effects of acquisition (including but

not limited

to,

disclosure

of

reasons

for

its	own
and	/	shares
brief	about	in	the

-

acquisition of target entity, if its business is outside the main line of business of the listed entity

brief details of any governmental or regulatory approvals required for the acquisition indicative time period for completion of the acquisition

nature of

consideration

whether

consideration or share swap and details same

Vivaa Tradecom Private Limited

The Company is

engaged	in	of
manufacturing/job	work	of	and
the	The

company is having total turnover of Rs. 145.90

processing of fabrics since

Crore as on March 31, 2021.

Not Applicable

Textiles Industry

The objective to acquire the manufacturing unit of Vivaa Tradecom Private Limited is business expansion of listed entity. Consequence to this acquisition, the company will have enhanced garments stitching capacity as well as process house.

Not Applicable

Upto 3 (three) months

of

cash the

It will be decided post due diligence and negotiations.

cost of acquisition or the price at which the } Not Applicable shares are acquired

percentage of shareholding / control acquired |

or number of background

acquired the entity acquired interms of products/line of business acquired, date of incorporation, history of last 3 years turnover,

Gujarat-INDIA.

Tel. : [phone] To 1885 Email:[e-mail],

(Listing

Obligations and

with

SEBI

Circular

the business garments year 2010.

Not

Applicable

country	in	which the	acquired
presence	and	any other	significant

(in brief)

No.

entityhas

Background: The Company is engaged business of manufacturing/job work of garments and processing of fabrics. It is having same line of business i.e. textiles

information

industry.
Incorporation:	23/04/2010
Country:	India

Date of

Matia Estate, Behind National Transport, Piplej-Pirana Road, Piplej, Anmedabad

382405, Gujarat-INDIA.

LEI	number:	335800UAAS6QEMMIZL77
Regd.	Office	Unit
Plot

( .

|

b

Ttil

0

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( India )

Ltd.

2) Change in DirectorshipDetails of Turnover:

Gujarat-INDIA.

Tel. : [phone] To 1885

Email:[e-mail],

FY.

Turnover (Rs. in Cr.)

2020-21 145.90

2019-20 97.41

2018-19 72.77

(Re-appointment of Independent Directors

Reason

for

change

viz.

re-appointment,Fesicnation, removal death or otherwise;

Date

of

Appointment

/

Gessatien

applicable) & terms of appointment;

• 1. Re-appointment

  of

  Kanhiyalal Vaidya (DIN: 00468732) as

  an Independent Director

  Company for a second term of four (4) years with effect from March 25, 2022, subject to approval of shareholders of the Company.

• 2. Re-appointment

  of

  Shamjibhai Patel (DIN: 00243783) as

  an

  Independent

  Company for a second term of five (5)

  (as

• 1. Re-appointment

  years	with
  subject	to	of
  of

  effect from March 25, 2022,

  approval the Company.

  Kanhiyalal Vaidya (DIN: 00468732) as

  an

  Independent

  Company: with effect from March 25, 2022

  Terms of re-appointment:Re-appointment

  of

  Kanhiyalal Vaidya (DIN: 00468732) as

  an

  Independent

  Company for a second term of four (4) years with effect from March 25, 2022, subject to approval of shareholders of the Company

• 2. Re-appointment

of

Shamjibhai Patel (DIN: 00243783) as

an

Independent

Company: with effect from March 25, 2022

Terms of re-appointment:

Unit	1	:	No.03,
Unit	2	:	Shed	No.	Shri
Unit	No.	24

Matia Estate, Behind National Transport, Piplej-Pirana Road, Piplej, Ahmedabad - 382405, Gujarat-INDIA.

Mr.

Yogesh

of

Mr.

Bharat

Director

of

shareholders of

Mr.

Yogesh

Director

of

Mr.

Yogesh

Director

of

Mr.

Bharat

Director

of

Shakti Estate & Warehouse, Piplej-Pirana Road, Saijpur-Gopalpur, Piplej, Ahmedabad - 382405, Gujarat - INDIA

thethethethethe

Shri Shakti Estate & Warehouse, Piplej-Pirana Road, Saijpur-Gopalpur, Piplej, Anmedabad - 382405, Gujarat - INDIA.

LEI	number:	335800UAAS6QEMMIZL77
Regd.	Office	Unit
Plot

Globe Textiles

( India ) Ltd.

Brief Profile of Mr. Yogesh Kanhiyalal Vaidya

(DIN:

00468732)

and _

relationship between directors

Disclosure

of

Brief Profile of Mr. Bharat Shamjibhai Patel

(DIN:

00243783)

and _

relationship between directors

Disclosure

For, Globe Textiles (India) Limited

w=

Bhavik Suryakant Parikh Managing Director

DIN: 00038223

Re-appointment

Gujarat-INDIA.

Tel. : [phone] To 1885 Email:[e-mail],

of

Shamjibhai Patel (DIN: 00243783) as

an

Independent

Company for a second term of five (5) years with effect from March 25, 2022, subject to approval of shareholders of the Company.

company
Textiles	is	actively
involved	in	the	of	textiles
according	to	the	for	various
purposes	like	technical

on _

Mr. Yogesh Kanhiyalal Vaidya, aged 71 years is a non-executive Independent Director of the since 2017. He holds a Master of

Engineering.

Mr. Vaidya

development latest trend clothing etc. He gives

and _

innovative advice

production, marketing and purchasing textiles, fibers, fabrics and other textile materials. He is having more than 50 years of experience in this field.

Mr. Yogesh Kanhiyalal Vaidya is not related to any Directors.

of

Mr. Bharatbhai Samjibhai Patel, aged 62 years is a nonexecutive Independent Director of our

company qualification

since

2017.

of Bachelor

Electronics and Communication from Gujarat University, cleared the diploma in DERE, from

AVPTI institute and qualified FIE, FIETE

IEI/

IETE

computer. information

institute

with

He

is actively

and

technology

company. He is having more than 35 years of experience in related business field.

Mr. Bharat Shamjibhai Patel is not related to any Directors.

Matia Estate, Behind National Transport, Piplej-Pirana Road, Piplej, Ahmedabad - 382405, Gujarat-INDIA.

Mr.

Bharat

Director

He _

of

designing,

holds _ the

of Technology

the

in

from

main

subject

of

involved in the

filed

in the