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| Exchange Disseminated Time 10/09/2015 15:03:06 | Onelife Capital Advisors Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 10, 2015, inter alia, has approved the following:
1. The Board of Directors approved to acquire Purple India Holding Limited. Purple India Holding Limited, has signed a Share Purchase Agreement to purchase majority equity shares of Destimoney Security Private Limited and Destimoney Commodity Private Limited, subject to regulatory approvals. These companies together with their subsidiaries are in the business of stock broking, commodity broking, wealth management, third party financial product sales and a Non-Banking Financial Company. The total investment for the said transaction will be at Rs 26 Crores.
2. To fund for the above acquisition and the operations thereafter, the Board of Directors has approved to change the IPO objects suitably, subject to necessary shareholder and other approvals.
3. The Board of Directors considered the formation of entity (ies) as and when appropriate as a wholly/ partly owned subsidiary(ies) / SPV/ Limited Liability Partnership/ Partnership Firm for initiating activities of underwriting for various forms of assets, products & services.
4. The Board of Directors accepted the resignation of Mr. Pavan Vyas as Company Secretary and Compliance Officer.
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