Corporate Announcement
Security Code : 532944    Company : ONMOBILE    
Non-binding MOU for potential divestment of a group entity 
  Exchange Disseminated Time     
OnMobile Global Ltd has informed BSE that OnMobile Global Ltd has executed a non-binding Memorandum of Understanding (MOU) for the potential divestment of its group company, Voxmobili SA, which specializes in mobile telecommunication products. The proposed deal will be subject to and contingent upon certain events, including applicable regulatory and shareholders’ approvals. If the proposed deal were to consummate, OnMobile could realize an amount ranging between USD 23 million to USD 26 million for the divestment of the said company (which is around its book value), subject to escrows and other conditions customarily contracted as a part of such a deal.


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