Persistent Systems announced the execution of a Share Purchase Agreement (SPA) for internal group restructuring, effective March 4, 2026. The transaction involves the transfer of 100% shareholding of its stepdown subsidiary, Persistent Systems Poland Spółka z o.o., Poland. The shares are moving from Persistent Systems Inc., USA, to Aepona Group Limited, Ireland. The stated goal is to achieve entity rationalization and operational efficiency.
Corporate Restructuring Announcement
Persistent Systems Limited has formally notified exchanges regarding a significant internal group restructuring. This move was executed via the signing of a Share Purchase Agreement (SPA) on March 4, 2026. The transaction focuses on optimizing the group structure to enhance efficiency.
Details of the Share Transfer
The core of the restructuring involves the transfer of the entire 100% shareholding of Persistent Systems Poland Spółka z o.o., Poland (a stepdown subsidiary). The seller is Persistent Systems Inc., USA (a wholly owned subsidiary), and the acquirer is Aepona Group Limited, Ireland (also a wholly owned subsidiary).
Rationale and Impact
- To achieve entity rationalization and operational efficiency within the corporate group.
- Following the transfer, Persistent Systems Poland Spółka z o.o. will be recognized as the wholly owned subsidiary of Aepona Group Limited, Ireland.
- The transaction is considered a related party transaction and is being conducted at arm’s length.
Financial and Transaction Specifics (Annexure A Highlights)
Target Entity Overview (Persistent Systems Poland Spółka z o.o.)
- Paid-up Capital: PLN 5,000.
- Turnover FY’25: PLN 12,116,407.
- Business: Engaged in software services, computer programming, and consultancy activities. It was acquired by the group in April 2023.
Transaction Value and Timing
The transaction utilizes Cash consideration for the transfer. The agreed-upon price for the acquisition of the shares is PLN 8,819,650.00. The remittance of this payment is currently expected to be completed by March 31, 2026, as per the terms outlined in the SPA.
The group confirms that there is no benefit accruing to the promoter or promoter group from this proposed restructuring, as it is purely an internal realignment.
Source: BSE
