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Affle demands full inspection on Bobble and has filed Execution Petition in the Delhi High Court to enforce its rights, pursuing justice and can take fair exit from Bobble

June 21, 2024: With respect to Affle India Limited (“Affle”) minority investment in Talent Unlimited
Online Services Private Limited (“Bobble”), Affle demands full inspection on Bobble and has secured
Delhi High Court order for the same. Affle has also filed an execution petition in the Delhi High Court
to enforce the full inspection rights on Bobble as per the Shareholder’s Agreement. Bobble has refused
to comply and is blatantly in contempt of court orders.
In July 2023, Delhi High Court in its order upheld Affle’s right of inspection as per the Shareholder’s
Agreement and Bobble was asked to comply promptly. Bobble failed to comply with the Court orders
and Affle is therefore pursuing the contempt petition in Delhi High Court against Bobble.
During the pendency of the disputes in Arbitration in SIAC and Delhi International Arbitration Centre
(“DIAC”) where Affle is the aggrieved claimant, Xiaomi exited majority of its investment in Bobble by
selling shares to Krafton – a Korean listed company with significant dealings with Tencent in China.
Krafton had earlier failed to make payment to Affle to acquire a stake in Bobble, till the extended
long stop date of the agreement in October 2022 as Krafton failed to provide the mandatory
declarations required by our Authorised Dealer Banker for compliances under FEMA. [BSE Intimation
LINK]
Speaking on the Development, Affle Said: Affle has consistently invoked its right of inspection
on Bobble for over 18 months on account of suspicious fraudulent activities, breaches of fiduciary
duties and regulatory compliances, including financial and data leakages. Bobble management
(supported by Saif Partners / Elevation Capital) wants to “put a lid” on all illegal conduct of Bobble
and they have scuttled Affle’s pre-emption rights and inspection rights systematically. They are
highly connected and trying to use all means to arm twist Affle into a low-balled unfair settlement
and exit. Notably, Affle was ready to exit from Bobble but Krafton did not make payment to Affle’s
bank account in October 2022 and yet through some other suspicious transactions Krafton managed
to become a shareholder of Bobble and it is also supporting Bobble’s continued poor governance
conduct including evasion of court orders for inspection. We have zero tolerance for poor governance,
wilful breaches and financial misconduct and we are pursuing justice at all levels.
About Affle
Affle is a global technology company with a proprietary consumer intelligence platform that delivers consumer
recommendations and conversions through relevant Mobile Advertising. The platform aims to enhance returns
on marketing investment through contextual mobile ads and also by reducing digital ad fraud. Affle powers
unique and integrated consumer journeys for marketers to drive high ROI, measurable outcome-led advertising
through its Affle2.0 Consumer Platforms Stack which includes Appnext, Jampp, MAAS, mediasmart, RevX, Vizury
and YouAppi.
Affle (India) Limited successfully completed its IPO in India and now trades on the stock exchanges (BSE: 542752
& NSE: AFFLE). Affle Holdings is the Singapore based promoter for Affle (India) Limited, and its investors include
Microsoft, Bennett Coleman & Company (BCCL) amongst others.

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