Symbol HCL-INSYS
Company HCL Infosystems Limited
Industry Computers - Hardware

Broadcast Date/Time 16-Apr-2018 08:59
Subject Updates
Announcement HCL Infosystems Limited has informed the Exchange regarding 'The Company vide communication dated 28th February?? 2018 informed regarding the decision of HCL Insys Pte. Ltd., (??HCL Insys??/ ??Seller??), Singapore to sell its entire investments in its subsidiary namely HCL Infosystems MEA FZE (HCL MEA) along with step down subsidiary of HCL MEA to M/s Axis Investment Incorporated (the ??Buyer??). The closure of transaction was subject to certain conditions precedent as specified in the Share Purchase Agreement (SPA). Since the Buyer has failed to pay the consideration, which is a breach of Warranty, HCL Insys / Seller has decided to terminate the SPA.'.
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