AAMRANET: Decision to hold EGM for approval of related party transactions

The company has informed that the Board of Directors has decided to hold an EGM to obtain approval from shareholders for the following related party transactions: The Board has decided to sell Company's Data Centre and its related infrastructure (passive) to Aamra Holdings Limited (a related party for common directorship along with the significant control over the management of the Company) at an agreed price of BDT 115.00 million : where the book value of the asset is BDT 84.47 million. It was noted by the Board that a net gain of BDT 23.66 million from the sale of assets will have a direct impact on profitability, increasing EPS by BDT 0.38 (considering post dividend paid-up capital). The Board has also decided to invest BDT 30.00 million in a new product line IPTSP (subject to BTRC license), BDT 70.00 million in infrastructure development of the existing MPLS : business line and BDT 15.00 million in working capital from the fund, which will be collected through the asset sale. The company has also informed that the Board believes the introduction of a new product line and investment in profitable MPLS products will have a greater impact on the Company's profitability than the data centre. Date of EGM: 31.12.2022, Time: 4:30 PM, Venue: Digital Platform. Record Date for EGM: 28.12.2022.