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| Exchange Received Time 27/12/2017 15:44:50 Exchange Disseminated Time 27/12/2017 15:44:55 Time Taken 00:00:05 | Update on Transfer of step down Subsidiaries to another Subsidiary Company- Intimation under Regulation 30 of Listing Regulations, 2015
Dear Sir(s),
In continuation to our letter dated 6th July, 2017, we wish to inform that Spice VAS (Africa) Pte. Limited, Singapore ('SVA') has informed that Memorandum of Understanding (MOU) entered between SVA and SVA (Mauritius) Pvt. Limited, Mauritius ('SM'), both step down foreign subsidiaries of the Company, has been terminated w.e.f 21st December, 2017. In the view of this, SVA will not transfer its shareholding in any of the subsidiaries as mentioned in our earlier letter dated 6th July, 2017 to SM.
Consequently, all the subsidiaries will continue to be the step down subsidiaries of the Company through SVA, Singapore.
You are requested to kindly take the above on record and oblige.
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