Optiemus Infracom Limited has informed the Exchange about General Updates
OPTIEMUS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Optiemus Infracom Limited has revised its earlier approval to invest in Optiemus Electronics Limited (OEL), a wholly owned subsidiary, via a rights issue. OEL subsequently reassessed its funding requirements and determined, based on its current working capital position, that the proposed infusion of funds is not required at this stage. As a result, the planned investment in the subsidiary will not be pursued, and the earlier approval stands cancelled.
The cancellation of the subsidiary investment suggests OEL's working capital needs are adequately covered, which may reduce immediate dilution concerns for existing shareholders.