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63 Moons Technologies Ltd.

BSE: 526881 Sector: IT
NSE: 63MOONS ISIN Code: INE111B01023
BSE 00:00 | 24 Apr 2020 63 Moons Technologies Ltd
NSE 05:30 | 01 Jan 1970 63 Moons Technologies Ltd

Outcome of Board Meeting & Another Board Meeting on May 24, 2014

May 10, 2014, 3:15 pm | Source: BSE

Financial Technologies (India) Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 10, 2014, took note on the progress of the divestment of FTIL’s stake in MCX and noted that all the shortlisted bidders continue to be interested in the divestment.

The Board also took note of the developments in the past few weeks including; a) the sharing of the Executive Summary of the PwC report, b) the clarification issued by FTIL on the Executive Summary of PwC Report c) the Revised Norms issued by FMC, d) the resignation of the MD &CEO of MCX and the acceptance of his resignation and e) the updates and clarifications issued by MCX on the PwC report on May 9, 2014 to the effect:

Quote... ...already provided the material information forming part of the special audit report prepared by the audit firm (“Report”). The Company believes that the contents forming part of the executive summary which has been disclosed forms a material part of the Report. ” Unquote.

The Board deliberated on the divestment process and decided that further time need to be given in the light of the developments that have come on May 9, 2014. The Board decided to give two weeks time to complete the discussions and negotiations with the bidders and attain the final bid.

The Board is now scheduled to meet on May 24, 2014.