Outcome of board meeting of Infibeam Avenues

Held on 17 December 2018

The Board of Infibeam Avenues at its meeting held on 17 December 2018 has pproved the entering into a binding Memorandum of Understanding ("MoU") between NSI Infinium Global, a wholly owned of Infibeam Avenues and Suvidhaa Infoserve and following -

1. Investment of Rs 25.00 crore for acquisition of 5.00% of Equity Stake with control of NSI, a Wholly Owned Subsidiary of lnfibeam by Suvidhaa Infoserve

2. Transfer of Equity stake held by NSI in DRC Systems India, a subsidiary Company of NSI to Infibeam Avenues.

3. Subsequently, merger of NSI with Suvidhaa Infoserve through a Scheme of Amalgamation.

 

4. Convening an Extra-Ordinary General Meeting of the shareholders of lnfibeam Avenues on 12 January 2019 for seeking the approval of the members to the matters stated above.

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