AGS Transact infuses US $500,000 in Singapore arm Global Transact; stock dips ~3%

30 Jun 2022 , 10:57 AM

AGS Transact Technologies Limited informed that pursuant to the approval of the Board of Directors received on March 31, 2021, towards investment up to USD 1,000,000 in its Singapore-based wholly-owned subsidiary i.e. Global Transact Services Pte. Ltd. (WOS), the Company has made an investment up to USD 500,000 in form of Ordinary Shares in its said WOS on June 29, 2022.

GTSL is an investment holding company. The proposed investment is made for WOS’s general corporate purposes/Investment.

Since it is a wholly-owned subsidiary there is no change in the percentage of holding.

GTSL is an Investment Holding Company/Special Purpose Vehicle (SPV).

At around 11.04 AM, AGS Transact was trading at Rs70.80, down by 2.99% against its previous close of Rs72.70 on NSE. It touched intraday high and low of Rs73.70 and Rs70.80 respectively so far.