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| Exchange Received Time 13/08/2018 23:33:55 Exchange Disseminated Time 13/08/2018 23:34:02 Time Taken 00:00:07 | In continuation to our earlier letter dated 25th May, 2018, we would like to submit that in terms of Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with corresponding circulars and notifications issued thereunder, the Board of Directors of the Company at its Meeting held on 13th August, 2018, has accorded its consent to divest its entire stake in DigiVive Services Private Limited ('DSPL'), a wholly owned subsidiary of the Company to Infotel Business Solutions Limited, pursuant to which DSPL will cease to be a wholly owned subsidiary of the Company. It is further submitted that the Company held directly 79.85% of its equity shareholding and balance equity shareholding of 20.15% through its wholly owned subsidiary Media Matrix Enterprises Private Limited.
The details required to be disclosed as per SEBI circular (CIR/CFD/CMD/4/2015) dated September 9, 2015 are enclosed herewith as Annexure 'B'.
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