News
Notice of Dissolution of a Sub-subsidiary Overseas
2023/09/29
CAC Holdings Corporation (the “Company”) announces that its consolidated subsidiary Inspirisys Solutions Limited (headquartered in Chennai, India; listed on the Bombay Stock Exchange and the National Stock Exchange; hereinafter “ISL”) decided to initiate voluntary dissolution and liquidation procedures for its wholly owned subsidiary Inspirisys Solutions DMCC (headquartered in Dubai in the United Arab Emirates; hereinafter “ISDMCC”) on September 28, 2023 (Indian Standard Time) and made the announcement below.
The Company will promptly communicate any information about the expected impact of the dissolution of ISDMCC on its non-consolidated or consolidated results.
"ISL hereby announces that it approved the initiation of voluntary dissolution and liquidation procedures for its wholly owned subsidiary ISDMCC based in Dubai at a Board of Directors meeting held on September 28, 2023 in accordance with Regulation 30 of the Securities and Exchange Board of India (SEBI) Regulations (Listing Obligations and Disclosure Requirements), 2015. ISDMCC is not a major subsidiary of the Company. The formal voluntary dissolution and liquidation procedures for ISDMCC will begin shortly in compliance with applicable laws."
(Note) The text above is an abridged version of the document disclosed by ISL in English(Attachment). For more information, refer to the original text below.
(Reference) Profile of the sub-subsidiary
Name: Inspirisys Solutions DMCC
Address: Dubai, United Arab Emirates
Representative: Maqbool Hassan
Director Business: Provision of IT services
Share capital: 0.3 million United Arab Emirates dirham (approximately 12 million yen)
Shareholding ratio: Inspirisys Solutions Limited 100％
(Attachment) Document published by ISL
End.