General Announcement::General Announcement

Issuer & Securities

Issuer/ Manager
3I INFOTECH LIMITED
Securities
3IINFOTECH US$2.435MCB170726 - XS0308551166 - 3JDB
3IINFOTECUS$125.356M5%CB170426 - XS0769181982 - 2CCB
3IINFOTEUSD16.323M2.5%CB250331 - XS1423751418 - 66DB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
27-May-2019 20:42:14
Status
New
Announcement Sub Title
General Announcement
Announcement Reference
SG190527OTHRMBB2
Submitted By (Co./ Ind. Name)
3i Infotech Limited
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
This is with reference to our intimation dated June 29, 2018 informing the stock exchanges that the Board of Directors of the Company had, on the said date, approved the draft Scheme of Arrangement between 3i Infotech Limited (the Company) and its Shareholders under Sections 230 and 232 and other applicable provisions of the Companies Act, 2013 (draft Scheme). In pursuance to the same, on July 13, 2018, the Company had filed an application under Regulation 37 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR) with the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) with respect to the draft Scheme.

Subsequently, BSE and NSE had issued Observation Letters with respect to the draft Scheme on November 27, 2018 and November 28, 2018 respectively, valid for a period of six months from their date of issuance. The said Observation Letters are available on the website of the Company i.e. https://www.3i-infotech.com/investors-2/ under the Scheme of Arrangement section.

This is to inform that the validity period of the Observation Letters has expired and that the management has chosen to keep the filing of the draft Scheme along with the Observation Letters with the National Company Law Tribunal on hold due to internal re-consideration of certain factors relating to the draft Scheme in the best interests of the Company at this point of time.

Any decision on proceeding with the draft Scheme will be taken by the Board of Directors at the appropriate time and will be intimated to the stock exchanges in accordance with the provisions of Regulation 30 of SEBI LODR.

We request you to take the above update on record and display the same on your website please.

Attachments

Intimation Final clean - SGX.pdf
Total size =590K