The Board of Directors of Allsec Technologies Ltd at its meeting held on 10th September, 2019 has considered and accepted the recommendations of the Audit Committee, for the purchase of HR Compliance Business of Coachieve Solutions Private Limited (‘CoAchieve’) as a going concern on a slump sale basis from CoAchieve for a lump sum cash consideration, without values being assigned to individual assets and liabilities as contemplated under the Income Tax Act, 1961, on such terms and conditions as contained in the Business Transfer Agreement (‘BTA’). The Audit Committee and the Board of Directors have approved the execution of BTA between the Company and CoAchieve.