Ace Software Exports Limited was incorporated on 17th August 1994 as a public limited company by Mr. Sanjay Dhamsania, Mr. Vikram Sanghani and Mr. Jay Sanghani. The company received certificate of commencement of business dated September 23, 1994 from Registrar of Companies, Gujarat, Dadra and Nagar Haveli. They were engaged in the business of database creation since October 1992 under the Partnership Firm, Ace Software Exports. Ace Software Exports, the Partnership Firm has exported 100% of its production to Apex Data Services Inc., U.S.A. since inception. Ace Software Exports Limited has acquired the fixed assets and the running business of the Partnership Firm. The Company has signed a fresh Agreement with Apex Data Services Inc. for buy-back of 100% of its production. There is no agreement for takeover of business from Ace Software Exports. The Assets acquired by the company from the firm and the basis of transfer is as under. Computer and office equipments of Rs.48.07 lacs have been acquired by the company. These have been sold by the firm at book value without any revaluation. 240 Equity shares each of Rajkot Computer Education Pvt. Ltd. and Ace Computer Education Pvt. Ltd. acquired at a cost of Rs.15 lacs and Rs.25 lacs respectively. These companies have been promoted by the promoters and are under the same management. These have been transferred at book value which represents cost of acquisition to the partnership firm. * 240 Equity Shares (Face value Rs.100/-) 15,00,000 of Rajkot Computer Education Pvt. Ltd., Rajkot. The valuation of 240 shares acquired by the company is arrived at by the company on the following basis which was done on March 31, 1995 I - Equity Capital 50,000 II - Reserves and Surplus 1,27,471 III - Capital Expenditure written off in the books upto 31/03/95 (Approx. Value) a. Software 40,000 b. Technical Know-how 95,000 c. Technical Reference Material 1,00,000 d. Courseware Material 35,000 2,70,000 IV - Differential cost of replacement of fixed assets a. Furniture 5,41,848 b. Plant and Machinery and office equipments 1,94,853 c. Building 15,86,812 23,23,513 V - Goodwill 6,00,000 Total 33,70,984 Net Asset Value Per Share (33,70,984/500) is Rs.6,742/- Cost of purchase per share (15,00,000/240) is Rs.6,250/- * 240 Equity Shares (Face value Rs.100/-) of 25,00,000 Ace Computer Education Pvt. Ltd., Ahmedabad. The valuation of 240 shares acquired by the company is arrived at by the company on the following basis which was done on March 31, 1995 I - Equity Capital 50,000 II - Reserves and Surplus 5,61,565 III - Capital Expenditure written off in the books upto 31/03/95 (Approx. Value) a. Software 6,65,000 b. Technical Know-how 1,95,000 c. Technical Reference Material 2,50,000 d. Courseware Material 1,50,000 12,60,000 IV - Differential cost of replacement of fixed assets a. Furniture 6,47,909 b. Plant and Machinery and office equipments 2,94,550 c. Building 23,59,000 33,01,459 V - Goodwill 8,00,000 Total 59,73,024 Net Asset Value Per Share (59,73,024/500) is Rs.11,946/- Cost of purchase per share (25,00,000/240) is Rs.10,417/- PRESENT BUSINESS OF THE COMPANY The main area of operations which were carried out in the Partnership Firm, which now will be carried out by the Company has been the development of Software as per the clients' specifications. In software, the Company's specialisation has been in creation of databases. The Promoters have earlier handled a large number of assignments which include creation of Regulatory and Legal Databases, Financial Reports, Historical Literary databases for systems ranging from PC based CD-ROM Products to On-Line Mainframe products including workstation based Full - text search and Retrieval Systems for entities based in the United States, viz. Nuclear Power Plants, Leading Corporations, CD-ROM manufacturers etc. The Company has perfected the technology for delivering quality products to its clients. It guarantees 99.995% accuracy, less than one error in twenty thousand, and routinely delivers 100% accurate work. MAIN OBJECTS OF THE COMPANY The main objects of the Company as stated in the Memorandum & Articles of Association of the Company are: 1. To carry on the business of Exporters, Importers, Lenders and Hirers, Traders, Dealers, Buyers, Sellers, Commission Agents, Contractors, Sub-Contractors, Repairers of Computer Software and Hardware, Data Processing, Computer Aided Designs [CAD], Computer Aided Manufacturing [CAM], Conversion of all types of Engineering/Drawings to Electronic Media and other allied peripherals and media products of all types and telecommunication. 2. To establish and run data processing/computer centers and to offer consultancy and data processing and other services that are normally offered by data processing/computer centers to industrial, business and other types of customers and to import training on electronic data processing computer software and hardware, to customers and others. To conduct seminars, conferences for all matters relating to computer hardware, software and other related matters. The present and the proposed activities of the company as laid out above are within the purview of the Objects of the company as set out in the main objects clause of the Memorandum of Association of the Company. SUBSIDIARY The company does not have any subsidiary. 2003 -Board of Directors approves buyback of shares. 2004 -Board recommends Dividend of 5%. 2008 -E-mail ID for Investors Complaints:investorinfo@acesoftex.com 2024 -The company issued rights shares of Rs. 10 in the ratio of 1:1 at a premium of Rs. 68 per share.