Zicom Electronic Security Systems pares stake in subsidiary

For lumpsum of Rs 36.75 lakhs

Zicom Electronic Security Systems has announced that in accordance with the decision taken by the Board at its meeting held on 12 February 2013 to sell-off the entire shareholding (100%) held by the Company in its wholly owned subsidiary 2020 Imaging India (formerly known as Zicom CNA Automation); the Company has now sold off its entire shareholding in the said subsidiary at a lumpsum price of USD 60,000 (approx Rs 36,75,000).

The proposed sale is subject to necessary approvals from relevant authorities and provisions of applicable legislations.

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