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| Exchange Disseminated Time | MIC Electronics Ltd has informed BSE regarding a Press Release dated January 10, 2011.
Press Release:
"M/s. InfoSTEP India Private Limited, Hyderabad, India is a step-down subsidiary of MIC Electronics Limited by virtue of its subsidiary M/s. InfoSTEP Inc., CA, USA.
Now, MIC Electronics Limited holds 68.26% stake directly in M/s. lnfoSTEP India Private Limited after de-linking it from M/s. InfoSTEP Inc., CA, USA.
To consolidate and focus on its core business of LED Lighting & Display Systems, MIC Electronics Limited sold its entire 68.26% stake (67,94,341 shares) of M/s. InfoSTEP Inc., CA, USA for US$ 3 Million in cash to M/s. Saama Technologies Inc., CA, USA" |
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