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| Exchange Received Time 06/07/2017 16:58:43 Exchange Disseminated Time 06/07/2017 16:58:53 Time Taken 00:00:10 | Sub: Transfer of step down Subsidiaries to another Subsidiary Company- Intimation under Regulation 30 of Listing Regulations, 2015
Dear Sir(s),
This is to inform you that Spice VAS (Africa) Pte. Limited, Singapore ('SVA') and SVA (Mauritius) Pvt. Limited, Mauritius ('SM') , both step down foreign subsidiaries of the Company, have entered into a Memorandum of Understanding (MOU), whereby SVA shall transfer its entire shareholding in the below mentioned subsidiaries to SM against issue of SM's shares to SVA, as agreed between SVA & SM:
1) Spice VAS Kenya Ltd.
2) Spice VAS Tanzania Ltd.
3) Spice Digital Nigeria Ltd.
4) Spice VAS Uganda Ltd.
5) Spice VAS Zambia Ltd.
6) Spice VAS Ghana Ltd., and
7) Spice VAS RDC
.
Consequently, all the above mentioned subsidiaries will become subsidiaries of SM and step down subsidiaries of SVA and will continue to be the step down subsidiaries of the Company.
You are requested to kindly take the above on record and oblige.
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