Amex Information withdraws Scheme of Amalgamation

Amex Information Technologies Ltd has informed BSE that the Board of Directors of the Company has decided to withdraw the application filed by the Company with the regulatory authorities for merger of Vishal Information Technologies Ltd, a subsidiary company with the Company (Scheme of Amalgamation), as the Board of Directors of both the Company is now of the opinion that with the growth of BPO and KPO segment, the merger of Vishal in the Company may not be in the best interest of the Company and decided to keep Software and ITS company as separate entity and not to merge the two.

Source : Equity Bulls

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