GACM Tech Board approves UK subsidiary, mulls share swap for acquisitions
GACM Technologies Ltd's Board of Directors, in a meeting held on June 25, 2026, approved the incorporation of a Wholly Owned Foreign Subsidiary (WOFS) in the United Kingdom. Named AURATRUST TECH LIMITED, this subsidiary will focus on expanding the company's international business operations in software development and information technologies. The Board also discussed a proposal for issuing Equity Shares to non-promoters on a preferential basis (share swap) to acquire stakes in Market Simplified India Limited and WEXL EDU Private Limited. A Preferential Issue Committee has been tasked with finalizing the list of allottees and swap quantities within eight days, with further details to be announced in a subsequent Board Meeting. The UK WOFS will be 100% owned by GACM Technologies and will be considered a related party.
Key Highlights
- Board approved incorporation of Wholly Owned Foreign Subsidiary in UK.
- UK subsidiary to expand international software development business.
- Discussed preferential share issuance for two company acquisitions.
- Share swap proposed for acquiring Market Simplified India and WEXL EDU.
- Committee to finalize allottees and swap quantities within 8 days.
Price Impact
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