Nettlinx Completes the shares allocation and acquires Salion SE
Author(s): City Air NewsHyderabad, December 23, 2016: Nettlinx Limited, Hyderabad based internet infrastructure Company, has received remittance towards upfront payment of 25% of total consideration for preferential issue of convertible...
cityairnews
Dec 23, 2016 12:30
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Hyderabad, December 23, 2016: Nettlinx Limited, Hyderabad based internet infrastructure Company, has received remittance towards upfront payment of 25% of total consideration for preferential issue of convertible share warrants.
The company has completed all the formalities and complied with guidelines and have accordingly allocated convertible share warrants to the two Foreign Portfolio Investors: 13,82,449 convertible share warrants to EXchange Investors N.V. and 4,12,678 convertible share warrants to Trans Global FZC.
With respect to an update on the recent acquisition of SalionSE , The Board of Directors of Nettlinx Limited commented that Mr Abraham Joy & Dr. E. Leopold Dieck will be on the supervisory board of Salion SE ( 2 out of 3 Directors ) . Till such time a full fledged CEO is appointed, Mr Abraham Joy & Dr. E. Leopold Dieck will jointly take care of the overall operations. “
