GACM Tech to Incorporate UK Subsidiary, Eyes International Expansion
GACM Technologies Ltd announced its Board Meeting outcome, revealing plans to establish a Wholly Owned Foreign Subsidiary (WOFS) in the United Kingdom to bolster international business operations. The company also discussed a preferential issuance of equity shares for acquiring stakes in Market Simplified India Limited and WEXL EDU Private Limited, with the Preferential Issue Committee tasked to finalize details within eight days. Further announcements regarding share swap quantities and allottees are expected in the subsequent board meeting, pending shareholder and regulatory approvals. The WOFS, named AURATRUST TECH LIMITED (pending approval), will focus on software development and IT services, with GACM Technologies holding a 100% stake.
Key Highlights
- GACM Tech will establish a UK-based Wholly Owned Foreign Subsidiary.
- The subsidiary aims to expand the company's international business operations.
- Board discussed preferential equity issuance for acquiring stakes in two Indian companies.
- Preferential Issue Committee to finalize share swap details within 8 days.
- WOFS will focus on software development and IT services.
Price Impact
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