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Megasoft in News |
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Megasoft Divests IT Services
Division 'BlueAlly' |
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Phone: +91 (40) 4033 0000
Fax: +91 (40) 4013 3555
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Phone: +1-703-793 0101
Fax: +1-703-793 9619
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Megasoft Ltd has informed BSE that the Board of Directors of the
Company at its meeting held on August 19, 2009, inter alia, has
approved the sale and transfer of the BlueAlly Division as a
"going concern" to Trianz Inc., USA, which is a wholly owned
subsidiary of Trianz Holdings Pvt Ltd, India. The Board of
Directors have considered and approved the price consideration,
which after taking into account, the value of the outstanding
receivables on the date of the transfer of the division, to be
around US dollar 13 to 15 million. This is subject to the
approval of the shareholders of the Company under section 293(1)
(a) of the Companies Act, 1956, and other approvals as may be
required in this regard.
The Board of Directors of the Company at their meeting held on
August 19, 2009, had also approved the 'Postal Ballot Notice'
for approval of the shareholders of the Company by Ordinary
Resolution under section 293(l)(a) of the Companies Act, 1956,
for transfer, sell and / or dispose off of the Company's IT
Services division 'BlueAlly'. The said postal ballot notice
shall be filed with the stock exchanges on posting to the
shareholders in due course. |
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