AGS Transact Technologies Ltd. announces the acceptance of Term Sheet for 90% equity interest in its step-down Subsidiary Novus Technologies Pte. Ltd.

AGS Transact Technologies (BSE: 543451 & NSE: AGSTRA) is pleased to announce that it has accepted a non-binding term sheet for the sale of its 90% equity interest in its step-down subsidiary, Novus Technologies Pte. Ltd. The deal is subject to completion of definitive agreements, due diligence, and customary closing conditions.

The transaction is in line with the Company's efforts to reduce debt and improve cash flow. The signing of the term sheet marks a significant milestone in the transaction process, with both parties targeting completion in H1 of 2025.

Shares of AGS Transact Technologies Ltd was last trading in BSE at Rs. 6.81 as compared to the previous close of Rs. 6.98. The total number of shares traded during the day was 122357 in over 331 trades.

The stock hit an intraday high of Rs. 7.30 and intraday low of 6.70. The net turnover during the day was Rs. 849671.00.

Source : Equity Bulls

Keywords

AGSTransactTechnologies TermSheet StakeSale NovusTechnologies