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| Exchange Received Time 19/01/2018 20:34:43 Exchange Disseminated Time 19/01/2018 20:34:53 Time Taken 00:00:10 | Acquisition of Infinia Solutions: In consideration of the direction of long-term development, and to consolidate resources, increase economies of scale and improve Company's competitiveness, the Company, has executed a MOU and necessary agreements with Infinia Solutions and Services PTE Limited, Singapore (Previously known as Cordite PTE Limited) for the acquisition of 60% of the all of the issued and outstanding common shares on fully diluted bases, whereby Infinia shall become a subsidiary of Calsoft.
Based on that, Calsoft called for the EGM on 23rd December 2017 to consider and if thought fit, to pass with or without modification(s), for the acquisition of Infinia. The shareholders of the Company had approved at EGM the proposal and the results of EGM has been uploaded to BSE and NSE platforms.
Pursuant to relevant laws and regulations, Company filed necessary documents to the stock exchanges BSE and NSE.
This acquisition is expected to close in the first quarter of 2018
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