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| Exchange Disseminated Time | Den Networks Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 09, 2016, inter alia, has given its in-principle approval :-
1. to demerge, transfer and vest the Company's entire broadband business into its wholly owned subsidiary Company and
2. to merge / demerge the cable business of twenty three (23) subsidiary companies into DEN Networks Limited, the holding Company.
The Demerger of Broadband business and Merger / Demerger of the cable business of aforesaid subsidiary companies will be subject to requisite approval from the shareholders, creditors, Stock Exchanges, High Court(s), Department of Telecommunications, Securities and Exchange Board of India and other applicable regulatory/government authorities (as the case may be).
The definitive terms and conditions of the proposed Demerger of Broadband business and Merger / Demerger of the cable business are being evaluated. The draft scheme shall be placed before the Board for approval. |
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