Exicom Tele-Systems Ltd Share Price – NSE /  BSE

Capital Goods - Electrical Equipment, Small Cap

Exicom Tele-Systems will hold a meeting of the Board of Directors of the Company on 13 November 2024

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Exicom Tele-Systems announced that the 30th Annual General Meeting (AGM) of the company will be held on 27 September 2024.

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Exicom Tele-Systems has entered into a Loan Agreement with Exicom Power Solutions B.V., Netherlands, a Wholly Owned Subsidiary of the Company, for granting an additional unsecured loan of Rs. 125 crore to Exicom Power Solutions B.V., Netherlands (Borrower).

The purpose of this loan is for the Borrower to infuse the funds in its wholly-owned subsidiaries in the USA and Australia respectively. These subsidiaries will use the funds to support their primary business activities and to facilitate business growth and expansion.

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The Board of Exicom Tele-Systems at its meeting held on 07 August 2024 has approved a strategic acquisition of Tritium group of companies' (Tritium Group) assets and business in United States of America and Australia through Exicom's wholly owned step-down subsidiaries (Tritium Acquisition).

The Tritium Group designs and manufactures proprietary hardware and software to create advanced and reliable liquid-cooled direct current fast chargers (DCFC) for EVs. Tritium Group is recognized as a leading industry brand globally, with a record of over 13,000 DCFCs sold in 47 countries.

With this landmark acquisition, Exicom is set to unlock substantial long-term growth and value for its stakeholders. The Tritium Acquisition will add Tritium Group's manufacturing facility in Tennessee, USA, and its world-class engineering centre in Brisbane, Australia to Exicom's existing presence in Asia. This acquisition expands Exicom's global reach and amplifies its commitment to research and development to drive innovation in this growing industry.

For the Tritium Acquisition, Exicom's wholly owned subsidiary (namely Exicom Power Solutions B.V., a company incorporated in Netherlands) and wholly owned step down subsidiaries (namely Tritium Power Solutions Inc., USA and Tritium Power Solutions Pty Ltd, Australia) (collectively the “Buyers”) have executed a business sale agreement (“Business Sale Agreement”) today with the Tritium Group entities in United States of America (namely, Tritium America Corporation and Tritium Technologies LLC) and in Australia (namely, Tritium DCFC Limited, Tritium Holdings Pty Ltd, Tritium Pty Ltd) (collectively the “Sellers”) and their relevant receivers, managers, and agents.

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