Paul Merchants Ltd - Announcement under Regulation 30 (LODR)-Updates on Joint Venture
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| 17 Jun 2021 | |
| Pursuant to Regulation 30 of the SEBI LODR Regulations and in continuation to our earlier letter dated 11.02.2021, whereby we had intimated you about state of affairs of Company's Joint Venture (JV) Company in Malaysia i.e. Horizon Remit Sdn. Bhd.' (Company no. 631085-P), about its potential winding up or its sale to any buyer. We had also intimated in our said letter that the shareholders of the JV were in final round of discussions with potential buyer i.e. 'Al Jadeed Investment International' Muscat, Sultanate of Oman, to take over the JV. We hereby inform you that the Company along with other shareholders of the JV , except one shareholder i.e. EbixCash World Money India Limited holding 19.42% shareholding, have entered into a Share Purchase Agreement (SPA) with 'Al Jadeed Investment International SPC' (Company No. 1368013) (Purchaser) for the purpose of sale of 80.576% shares of JV to the said purchaser. The said Purchaser has signed the SPA on 16.06.2021. | |
| View all announcements for Paul Merchants Ltd | Source: BSE India |
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