IBIZ Consulting Pte. Ltd., Singapore which was formerly known as IBIZCS Group Pte. Ltd. (a wholly owned subsidiary of R Systems (Singapore) Pte. Ltd., Singapore which is a wholly owned subsidiary of R Systems International Limited) has entered into a Business Purchase Agreement with IBIZ Consulting Services Pte. Ltd, Singapore (a wholly owned subsidiary of IBIZ Consulting Pte. Ltd., Singapore) for the Purchase of business of IBIZ Consulting Services Pte. Ltd. on going concern basis at book value. The purpose of this restructuring is to ease the operations and align business as both the companies i.e. IBIZ Consulting Pte. Ltd. & IBIZ Consulting Services Pte. Ltd. are based in Singapore region. This will not impact the holding of R Systems (Singapore) Pte. Ltd. in IBIZ Consulting Pte. Ltd. and accordingly it will not impact the holding of R Systems International Limited i.e. the ultimate holding Company.