Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, Majesco has informed that the Company has entered into a share purchase agreement with Mastek (UK) (the Seller) on December 12, 2019, for acquisition of 2,000,000 shares of Majesco (USA), a material subsidiary of the Company (SPA). In consideration for purchase of the shares, the Company will pay the Seller $ 15.94 Million, based on closing stock price of Majesco (USA) on the NASDAQ on December 11, 2019. Accordingly, after the completion of the aforesaid purchase, stake of the Company in its material subsidiary, Majesco (USA), will increase to 74.6% from existing 69.9%.
The above information is a part of company’s filings submitted to BSE.
