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BSE SENSEX
73,651.35
+655.04
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Corporate Announcement
Security Code
500183
Company
HFCL Ltd
Exchange Received Time
21/10/2019 19:52:14
Exchange Disseminated Time
21/10/2019 19:52:21
Time Taken
00:00:07
Announcement under Regulation 30 (LODR)-Acquisition |
10/21/2019 7:52:15 PM
Acquisition of 50.10% of the Equity Shares in DragonWave HFCL India Private Limited [CIN:
U64200DL2010PTC211117] ("DHIPL"), a joint venture company, from DragonWave Pte. Ltd., Singapore, JV
Party, at a total consideration of Rs.2.80 crores, pursuant to cessation of the Joint Venture Agreement dated October 18, 2010.
We would like to inform that the Company had entered into a Joint Venture Agreement with Dragon Wave Inc.,
Canada dated October 18, 2010.
The Company and DragonWave-X Canada Inc. have mutually agreed to cease the aforesaid Joint Venture Agreement. Pursuant to cessation of the aforesaid Joint Venture Agreement, the Company shall acquire the balance stake of 50.10% (comprising of 35,07,000 equity shares of face value Rs.10/- each) held in DHIPL, through Dragon Wave Pte. Ltd., Singapore, at a total consideration of Rs.2.80 crores.
The details under Regulation 30 read with SEBI Circular No.CIR/CFD/CMD4/2015 dated 9th September, 2015, are enclosed as Annexure - I.
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