Newgen Software Secures AED 5.3M Contract for UAE Government Project

Newgen Software Technologies L.L.C, a subsidiary of Newgen Software Technologies Ltd, has entered into an agreement with a government organization in the UAE. The contract, valued at AED 5,309,103, involves the provision of Newgen Software licenses, implementation, and support services. The agreement is set to be executed over a period of three years.

The contract focuses on the development and support of an Automatic Exchange of Information – Pillar 2 tax compliance system. The transaction does not fall under the definition of a related party transaction as per the Companies Act, 2013. The name of the government organization involved in the contract is withheld for confidentiality reasons.

The agreement was executed by Newgen Software Technologies L.L.C, which is incorporated in Dubai. The contract is classified as an international transaction, with the counterparty entity based in the UAE. The financial consideration for this contract is exclusive of value-added tax.

The filing confirms that neither the promoter nor the promoter group of Newgen Software Technologies Ltd has any interest in the entity awarding the contract. The transaction was disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Newgen Software Technologies Ltd specializes in providing software solutions for business process management, enterprise content management, and customer communication management. The company focuses on enhancing operational efficiency and customer engagement through its technology offerings.