R Systems International Limited has informed the Exchange about Rumour Verification - Regulation 30(11)
RSYSTEMS · price
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Awaiting price reaction for this filing.
R Systems International has officially denied media reports that Coforge was considering acquiring a stake in the company. The stock had jumped about 6% on these reports, prompting stock exchanges to seek clarification. The company stated it is not engaged in any such discussions or negotiations and the news has no factual basis. It confirmed there is no undisclosed price-sensitive information and that no regulatory proceedings are involved. The company said there will be no material impact on its business operations from this news.
This is a formal denial of acquisition speculation, which could put short-term pressure on the stock as the 6% rally was based on unfounded reports. Investors should note that any further movement on this story is unlikely unless Coforge or R Systems makes a fresh announcement.