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| Exchange Received Time 23/04/2018 10:03:00 Exchange Disseminated Time 23/04/2018 10:03:05 Time Taken 00:00:05 | Notice is hereby given that a meeting of the Board of Directors of the Company will be held on 'Wednesday' 02nd May 2018, inter alia, to consider the following.:-
Signing of Memorandum of Understanding (MoU) to acquire a majority stake in UAE based Solutions MiddleEast DMCC (SME,www.solutions-me.com) providing software development and solutions. This acquisition makes Calsoft as global leadership in the space of software development and digital solutions. Consideration for the acquisition might be in cash or share or combination of both and thereby making SME as Calsoft's subsidiary. This acquisition is subject to satisfactory completion of due diligence, reference checks, internal approvals and approval from all statutory regulators. Currently SME operates in over 12 countries including Middle East, Africa, South Asia and South-East Asia regions. SME has consolidated revenue of 25 million USD as on 31 Dec 2017.
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