Brief: Sri Adhikari Brothers Television Network to issue preference shares

Aqylon Nexus

11/03/2016 03:09

March 10 (Reuters) - Sri Adhikari Brothers Television Network Ltd  SBTV.NS : 
 * To issue 2.4 million preference shares to shareholders of Sri Adhikari 
   Brothers Assets Holding Private Limited 
  
 * Source text: Sri Adhikari Brothers Television Network Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 10, 2016, inter alia, has approved the following: 
 
1. Issuance and Allotment of 2,381,068 fully paid-up Redeemable Preference Shares of the face value of Rs. 10/- each of the Company to the shareholders of Sri Adhikari Brothers Assets Holding Private Limited on proportionate basis pursuant to Clause 16.1 of Part III of the Composite Scheme of Amalgamation and Arrangement between Maiboli Broadcasting Private Limited and Sri Adhikari Brothers Assets Holding Private Limited and Sri Adhikari Brothers Television Network Limited and UBJ Broadcasting Private Limited and HHP Broadcasting Services Private Limited and MPCR Broadcasting Service Private Limited and TV Vision Limited and SAB Events & Governance Now Media Limited and their respective shareholders ('the Scheme'). 
 
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