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| Exchange Received Time 29/05/2019 17:32:23 Exchange Disseminated Time 29/05/2019 17:32:29 Time Taken 00:00:06 | This is an update to our stock exchange intimation dated April 17, 2019, wherein we had stated that Acquirer, which is a subsidiary of Quess, had signed definitive agreements to acquire up to 93,49,095 equity shares of Allsec, representing 61.35% of the total share capital of Allsec (the 'Underlying Transaction').
As part of the Underlying Transaction, we wish to inform that First Carlyle Ventures Mauritius has today (i.e. May 29, 2019) issued transfer instructions for the transfer of 39,61,940 equity shares of Allsec, representing 26.00% of the total share capital of Allsec (the 'Investor Shares'). The Investor Shares are expected to credit with the Acquirer either today (i.e. May 29, 2019) or tomorrow (i.e. May 30, 2019).
Additionally, pursuant to such transfer, Mr. Ajit Isaac and Mr. Subrata Nag, each of whom are nominees of the Acquirer, will be appointed as the Acquirer's nominee directors on the board of directors of Allsec.
We request you to take the above on record.
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