|
| Exchange Received Time 13/10/2017 17:27:35 Exchange Disseminated Time 13/10/2017 17:27:42 Time Taken 00:00:07 | We refer to our earlier communication regarding in-principal approval to Zee Gold DMCC, Dubai, ('Zee Gold') Wholly Owned Subsidiary of the Company for acquisition of 70 % of shareholding rights of Metalli Exploration And Mining, Mali ('MEAM' or 'Target Company') for Gold Mines located at Mali from Midas Gems & Jewellery, DMCC, Dubai ('Midas') for consideration not exceeding USD 7.50 Millions.
In this regards, We would like to update that, Zee Gold has completed the acquisition of 70% of the shareholding rights of MEAM for consideration @ USD 6.86 Millions and consequent upon above acquisition by Zee Gold, MEAM became the step down subsidiary of the Company.
|
|
|