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Jump Networks to acquire 1.90 cr shares of OnMobile

Capital Market 

Enters into share purchase agreement on 13 September 2019

Jump Networks (JUMPNET) has entered into a share purchase agreement dated 13 September 2019 (the "SPA Date") with OnMobile Systems Inc. (OMSI) - the Promoter of OnMobile Global (ONMOBILE) - that currently holds 48.18% of the total issued and paid-up share capital of ON MOBILE.

JUMPNET will purchase 1,90,00,000 equity shares of ONMOBILE at a price ranging between Rs 75.50 per equity share to Rs 78.00 per equity share (the "Share Purchase Agreement"). This sale is expected to be conducted within 75 days from the SPA Date and is subject to the conditions set out in the Share Purchase Agreement.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, September 16 2019. 09:21 IST