Board approves UK subsidiary and reviews share swap acquisitions

Board & Shareholder Meetings View source PDF

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AI summary

GACM Technologies board approved incorporating a wholly owned foreign subsidiary named Auratrust Tech Ltd in the UK to expand international business in software development and IT. The UK entity will have 1,000 ordinary shares of GBP 1 each, fully held by GACM. The board also discussed issuing equity shares to non-promoters on a preferential basis as a share swap for acquiring stakes in Market Simplified India Ltd and WEXL EDU Pvt Ltd. Shareholder meeting date for approvals will be decided in a later board meeting.

Likely market impact

Signals international expansion into the UK and potential acquisitions through share swap. Watch for further updates on shareholder approval and deal completion.