Clio Infotech to Invest £1000 for 100% Stake in UK Subsidiary
Clio Infotech Limited's Board of Directors has approved an investment of approximately £1000 (One Thousand GBP) to subscribe to 1000 equity shares in Clio Quantinfra Limited, a newly incorporated entity in the United Kingdom. This investment will result in Clio Quantinfra Limited becoming a wholly-owned subsidiary of Clio Infotech. The target entity will operate in the IT Services and IT Related Infrastructure sector, focusing on software design, development, and corporate IT services. The transaction is considered an arm's length deal, with no interest from the promoter or promoter group. Procedural approvals from the UK Company House are required, and the acquisition is expected to be completed within 12 months. The consideration is in cash.
Key Highlights
- Clio Infotech to acquire 100% stake in UK-based Clio Quantinfra Limited.
- Investment of £1000 (GBP) to establish a wholly-owned subsidiary.
- Target entity to focus on IT Services and IT Related Infrastructure.
- Transaction is at arm's length, with no promoter group interest.
- Acquisition expected to complete within 12 months.
Price Impact
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