Majesco denies shareholder request
Majesco has rejected an offer from Trinad to purchase 2 million shares. Majesco believes that Trinad is seeking to gain control of the company, and Majesco insists that they have enough capital to continue to operate without that large investment.
In an open letter, Majesco claimed Trinad was “effectively seeking to acquire control of the company without paying any consideration, let alone a control premium, to our shareholders.”
Since Majesco is not in the best financial position but still rejected the offer, that was probably a very hard decision to make.
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