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Sale of Investment in Synetairos Technologies Ltd

Updated on: Jul 02, 2011

Kale Consultants Ltd has informed BSE that on July 01, 2011, the Company sold its entire investment of 49% in the equity share capital of Synetairos Technologies Ltd ("Synetairos"), (a subsidiary of the Company by virtue of the Company controlling its composition of the Board of Directors) to Saksoft Ltd ("Saksoft"), a Company based in Chennai. The sale of shares is pursuant to the Share Purchase Agreement entered into between Saksoft, Kale consultants Ltd, Synetairos and Mr. Prakash Alkutkar (who held the remaining 51% equity in Synetairos), whereby Saksoft acquired 100% stake in Synetairos. After the said sale, Synetairos has ceased to be a subsidiary of the Company. The sale of investment has been approved by the Board of Directors of the Company.

Source : BSE - >www.bseindia.com

Published on July 02, 2011

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