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| Exchange Disseminated Time | Polaris Financial Technology Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 19, 2012, has transacted the following:
- The business of IdenTrust™ Inc. is classified by the US Government (CFIUS-Committee for Foreign Investments in US) as critical to its security infrastructure. The technology and several patents owned by IdenTrust™ over the last few years has given cutting edge differentiation to the business of IdenTrust™. For these reasons, the US Government imposed that the Company must be controlled by US entities only. Accordingly, the Board of Polaris has considered and approved the decision to enter into negotiations with interested parties in the US within the next 12 months. |
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