CALSOFT: The Exchange has sought clarification from California Software Company Limited with respect to announcement dated 10-May-2019,?? Board meeting held on May 10, 2019. A. Audited Results The Board of Directors of the Company have considered and approved the Audited Consolidated and Standalone Financial Results of the Company for the Fourth quarter and Year ended 31st March 2019. B. Appointment of Additional Directors The Board of Directors based on the recommendations of Nomination & Remuneration Committee to have a proper mix of competencies to conduct the Board's affairs effectively, unanimously appointed the following directors as Additional Directors of the Company. A Resignation of Rangarajan Bashyam as Independent Director .??B. Acquisition of New Business In consideration of the direction of long-term development, and to consolidate resources, increase economies of scale and improve the Company??s competitiveness, the Company, has executed a MOU and necessary agreements with Menakart General Trading LLC, UAE (Menakart) for the acquisition of 55% of the all of the issued and outstanding common shares on fully diluted bases, whereby the Menakart shall become a subsidiary of Calsoft."On basis of above the Company is required to clarify following: 1. Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief).2. Percentage of shareholding / control acquired and / or number of shares acquired;3. Nature of consideration - whether cash consideration or share swap and details of the same;4. Cost of acquisition or the price at which the shares are acquired;5. Indicative time period for completion of the acquisition;6. Brief details of any governmental or regulatory approvals required for the acquisition;7. Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity);8. Industry to which the entity being acquired belongs;9. Whether the acquisition would fall within related party transactions and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at "arm's length";10. Reason for change viz. appointment, resignation, removal, death or otherwiseThe response of the Company is awaited.