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| Exchange Disseminated Time 05/09/2016 18:55:00 | Den Networks Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 05, 2016, inter alia, has transacted the following;
1. A Scheme of Arrangement between DEN Networks Limited ("the Company") and the Skynet Cable Network Private Limited ("Skynet") (a wholly owned subsidiary of the Company), for demerger of Broadband/Internet Service Provider ("ISP") Business Undertaking into Skynet subject to receipt of requisite approvals from the shareholders, creditors, High Court(s), Stock Exchanges, Securities and Exchange Board of India and other applicable regulatory/governmental authorities and
2. A Composite Scheme of Arrangement between direct/ indirect subsidiaries of the Company with another Wholly Owned Subsidiary Company of the Company subject to receipt of requisite approvals. |
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