Jost's Engineering Company Limited informed that the Board of Directors at its meeting held on August 6, 2022, have approved incorporation of Wholly Owned Subsidiary of the company in India. Name of the target entity,details in brief such as size, Turnover etc: Name: Josts Engineering & Manufacturing Limited or any other names as may be approved by the Ministry of Corporate Affairs. Proposed Authorised Share Capital: INR 1,00,000/-.

The proposed Wholly Owned Subsidiary Company once incorporated will bea related party of the Company. Two promoter directors of Jost's Engineering Company Limited will be the director and/or shareholders of the proposed Wholly Owned Subsidiary Company. The Company has also taken prior approval of the Audit Committee.

The proposed investment in Wholly owned Subsidiary Company will be made at arms'length basis. Manufacturing, Services and trading of Engineering and Material Handling Equipments. The proposed wholly owned subsidiary company to be incorporated in India shall carry out the business of manufacturing and trading of Material Handling Equipments.

The proposed Wholly Owned Subsidiary company to be incorporated with subscription amount of INR 1,00,000/.