GV Films Gets Approval For Demerger; Separate Company For Webcasting
By Nikhil Pahwa - Tue 17 Jul 2007 09:08 PM PST
Chennai based GV Films has informed Bombay Stock Exchange that their board of directors has approved the demerger of the company into three entities: GV Films, GV Studio City and GV New Media Technologies, subject to regulator approval. All the assets and liabilities of GV Films’ webcasting division will be transferred to GV New Media Technologies. The appointed date for demerger is July 01, 2007. Shareholders will receive 1 share of face value Re 1 each of GV New Media Technologies and GV Studio City for every three shares of GV Films (of face value Rs. 10). [via ET]
