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| Exchange Received Time 29/12/2017 20:23:53 Exchange Disseminated Time 29/12/2017 20:24:00 Time Taken 00:00:07 | Sub: Execution of Share Purchase Agreement
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015, please be informed that a Share Purchase Agreement (SPA), has been executed by and between the Company (Seller 1) and Louisiana Investment & Finance Private Limited (Seller 2) for sale of 25,242,946 Equity Shares of Rs. 10 each of Timezone Entertainment Private Limited (Timezone) to Timezone West Asia Pte. Ltd. (Purchaser) on the terms and conditions as contained in the SPA.
Further, please be informed that upon fulfillment of the terms and condition of the SPA, the joint venture agreement executed in respect of 'Timezone' shall stand terminated.
The details as required in respect of SPA are annexed herewith.
We request you to kindly take the same on records. |
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