Common Contracts

JOINT VENTURE AGREEMENT RELATING TO THE SUBSCRIPTION AND ACQUISITION OF SHARES IN THE CAPITAL OF SCANTRANS INDIA PVT. LTD

September 28th, 2021

• Filed
  September 28th, 2021

The Board of Directors of International Press Softcom Limited (the “Company”) wishes to announce that it has on 11th September 2007 entered into a joint venture agreement (the “Agreement” or “Transaction”) with Scantrans India Pvt. Ltd (“Scantrans”), Ravikrishnan V.B, Sridharan V.B. and Grandhe Prasanna Kumar for the subscription of 51,872 new shares (“New Shares”) and the acquisition of 85,900 vendor shares (“Vendor Shares”) amounting to an aggregate of 137,772 shares representing 55% of the capital of Scantrans (the “Subscription and Acquisition”) and resulting in Scantrans becoming a subsidiary of the Company. On completion of the Agreement, the shareholding of Scantrans shall be as follows:-