Hi folks,
I have been following this company called Sigma Solve ltd since last couple of years and they seem to be doing well.
I have question regarding their recent corporate filing. So their majority of revenue comes from Sigma Solve Inc (a subsidiary of Sigma Solve ltd) which they owned 60% earlier and now it is raised to 100%.
I don’t understand how the raising to 100% is done (as there is no outflow of cash). following is the statement which i don’t understand.
Here is the corporate filing
Sigma Solve Inc. is the Subsidiary
Company of Sigma Solve Limited
(“SSL”). SSL held 59.81% stake in the
Subsidiary. However the said stake of
59.81% has raised to 100% as a result
of Buy Back of Securities floated by the
Sigma Solve Inc. SSL has refused to
participate into the Buy Back of Sigma
Solve Inc. and as a result today when
the Buy Back has completed in Sigma
Solve Inc. the stake of SSL in Sigma
Solve Inc. is 100% and made it its
Wholly Owned Subsidiary. Also, there
was no Outflow of Cash from the funds
of the Company.
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