General Announcement::Intra-Group Merger of Step-down Subsidiary
Issuer & Securities
Securities3IINFOTECH US$2.435MCB170726 - XS0308551166 - 3JDB
3IINFOTECUS$125.356M5%CB170426 - XS0769181982 - 2CCB
3IINFOTEUSD16.323M2.5%CB250331 - XS1423751418 - 66DB
Stapled SecurityNo
Announcement Details
Announcement Title General Announcement
Date & Time of Broadcast12-Jan-2018 21:33:34
Announcement Sub TitleIntra-Group Merger of Step-down Subsidiary
Announcement ReferenceSG180112OTHRJ5CB
Submitted By (Co./ Ind. Name)Rajeev Limaye
DesignationCompany Secretary
Description (Please provide a detailed description of the event in the box below)Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that 3i Infotech Financial Software Inc, a US based step-down subsidiary of the Company has been merged into 3i Infotech Inc, another US based step-down subsidiary of the Company effective December 31, 2017.
The said merger was approved by the Division of Corporations of the State of Delaware on January 8, 2018, the intimation of which was received by the Surviving Corporation on January 11, 2018.
All of the assets and liabilities of 3i Infotech Financial Software Inc have been assumed by 3i Infotech Inc as the Surviving Corporation. There is no cash consideration involved in the said merger.
The intent of the merger was to effect a tax-free re-organisation under all applicable laws.
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