Jump Networks to acquire 1.90 cr shares of OnMobile

Enters into share purchase agreement on 13 September 2019

Sep 16, 2019 03:09 IST capital market

Jump Networks (JUMPNET) has entered into a share purchase agreement dated 13 September 2019 (the SPA Date) with OnMobile Systems Inc. (OMSI) - the Promoter of OnMobile Global (ONMOBILE) - that currently holds 48.18% of the total issued and paid-up share capital of ON MOBILE.

JUMPNET will purchase 1,90,00,000 equity shares of ONMOBILE at a price ranging between Rs 75.50 per equity share to Rs 78.00 per equity share (the Share Purchase Agreement). This sale is expected to be conducted within 75 days from the SPA Date and is subject to the conditions set out in the Share Purchase Agreement.

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