We hereby inform that the subsidiary of the company i.e. Telge Projects Inc. have entered into the Share Purchase Agreement dated March 03, 2026.
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Telge Projects Ltd's wholly owned subsidiary, Telge Projects Inc. (USA), has signed a Share Purchase Agreement on March 3, 2026 to acquire 100% of Edward Farr Architects, Inc. (EFA Inc) for a consideration of USD 190,000. EFA Inc is a USA-based firm providing specialized architecture and planning services and is not a related party. The listed company itself is not a party to the agreement, but upon completion, it will become the ultimate holding company and EFA Inc will become a step-down subsidiary. The deal is subject to satisfaction of certain conditions precedent mentioned in the SPA. The acquisition is relatively small in monetary terms.
This is a small bolt-on acquisition (USD 190,000) that expands the group's USA architecture footprint through a step-down subsidiary. For shareholders, the financial impact is likely minor given the deal size, but it signals the company's intent to grow its international architecture business, which could be incrementally positive if EFA Inc contributes meaningfully to revenues and margins post-completion.