An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Adya, Inc. announces the successful sale of its subsidiary, Ellora Telecom Philippines Inc., for $420,000 in cash to optimize its core telecommunications business. The divestiture was due to financial challenges faced by the subsidiary, allowing Adya to concentrate on key operations and boost shareholder value.
Adya, Inc. annuncia la vendita con successo della sua filiale, Ellora Telecom Philippines Inc., per 420.000 dollari in contanti per ottimizzare il suo business principale nel settore delle telecomunicazioni. La dismissione è stata dovuta a sfide finanziarie affrontate dalla filiale, permettendo ad Adya di concentrarsi sulle operazioni principali e aumentare il valore per gli azionisti.
Adya, Inc. anuncia la venta exitosa de su filial, Ellora Telecom Philippines Inc., por $420,000 en efectivo para optimizar su negocio central de telecomunicaciones. La desinversión fue debido a desafíos financieros enfrentados por la filial, permitiendo a Adya concentrarse en operaciones clave y aumentar el valor para los accionistas.
Adya, Inc.는 자사의 자회사인 엘로라 텔레콤 필리핀즈 인크를 42만 달러에 현금으로 성공적으로 매각하고 핵심 통신 사업을 최적화했다고 발표했습니다. 이 매각은 자회사가 직면한 재정적 도전 때문이었으며, 이로 인해 Adya는 핵심 운영에 집중하고 주주 가치를 높일 수 있었습니다.
Adya, Inc. annonce la vente réussie de sa filiale Ellora Telecom Philippines Inc., pour 420 000 dollars en espèces afin d'optimiser son activité de télécommunications principale. La cession a été motivée par les défis financiers auxquels la filiale était confrontée, permettant ainsi à Adya de se concentrer sur les opérations clés et d'améliorer la valeur pour les actionnaires.
Adya, Inc. gibt den erfolgreichen Verkauf seiner Tochtergesellschaft, Ellora Telecom Philippines Inc., für 420.000 Dollar in bar bekannt, um sein Kerngeschäft im Telekommunikationsbereich zu optimieren. Die Veräußerung erfolgte aufgrund finanzieller Herausforderungen, mit denen die Tochtergesellschaft konfrontiert war, was Adya ermöglichte, sich auf wichtige Operationen zu konzentrieren und den Wert für die Aktionäre zu steigern.
Positive
Successful completion of the sale of Ellora Telecom Philippines Inc. for $420,000
Decision made due to financial difficulties faced by the subsidiary
Agreement with Ellora Telecom for continued customer support services
Focus on core business areas to enhance value for stakeholders
Negative
None.
TORONTO--(BUSINESS WIRE)--
Adya, Inc. (“Adya” or the “Company”), (TSX-V:ADYA; OTCQB: ADYIF) announces the successful completion of the sale of its indirectly owned subsidiary, Ellora Telecom Philippines Inc., to an arm’s length third party. This strategic move, finalized on May 2, 2023, was executed pursuant to a share purchase agreement for a total consideration of $420,000 in cash (the “Disposition”).
Ellora Telecom, a call-center operation based in the Philippines, was not deemed central to the Company’s primary telecommunications operations. The decision to divest came as Ellora Telecom was experiencing financial difficulties and contributing minimally to Adya’s revenue stream. This subsidiary represented a modest portion of our overall assets and business operations.
In conjunction with the Disposition, the Company has entered into a Customer Support Services Agreement with Ellora Telecom. Under this agreement, Ellora Telecom will continue to provide Company with specified services for a fee, ensuring a seamless transition and continuity of service.
This divestiture allows Company to streamline its operations and focus more effectively on its core business areas, enhancing value for stakeholders.
ABOUT ADYA
Adya is a publicly traded holding company, with offices located in Toronto, Canada, and currently a strategic shareholder in telecommunications and technology companies.
Forward-Looking Statements
Certain statements in this press release may be “forward looking” statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Adya or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward looking statements. These forward looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof and Adya assumes no obligation, except as required by law, to update any forward looking statements to reflect new events or circumstances.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
