Brief: Jagran Prakashan to consider proposal for share buyback

Jagran Prakashan

20/05/2016 11:43

May 20 (Reuters) - Jagran Prakashan Ltd  JAGP.NS : 
 * Says to consider a proposal for buyback of the equity shares 
 
* Source text: 
Jagran Prakashan Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 30, 2016 inter alia, to; 1. Consider and approve the Audited Financial Results of the Company for the quarter and financial year ended March 31, 2016; 2. Consider a proposal for buyback of the equity shares under the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998, subject to (a) receipt of approval of the scheme of arrangement between Suvi Info Management (Indore) Private Limited, a subsidiary of the Company, with the Company, which scheme has been approved by the Hon'ble Allahabad High Court but is pending approval from the Hon'ble Bombay High Court; and (b) receipt of approval of the scheme of amalgamation between Crystal Sound 8c Music Private Limited and Spectrum Broadcast Holdings Private Limited, both subsidiaries of the Company, with the Company and demerger of the radio business undertaking of Shri Puran Multimedia Limited into Music Broadcast Limited, a subsidiary of the Company, which scheme is pending approval from the Hon'ble Allahabad High Court and the Hon'ble Bombay High Court. 
 
* Further company coverage  JAGP.NS  ((Bengaluru Newsroom; +91 80 6749 1130))