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| Exchange Disseminated Time | Infomedia 18 Ltd has informed BSE that the Scheme of arrangement between Infomedia18 Limited (Infomedia18) with Network18 Media & Investments Limited (Network18) and their respective shareholders and creditors (the Scheme) has been approved by the Hon'ble High Court of Delhi vide its orders dated May 22, 2012 (read with orders dated May 03, 2012, February 10, 2012 and November 22, 2011). The Scheme has been made effective on June 01, 2012.
In this regard the Company has fixed June 13, 2012 as the 'Record Date' for the purpose of determining the shareholders of Infomedia18 Limited (Infomedia18) who will be entitled to receive Equity Shares of the Network18 Media & Investments Limited (Network18), in terms of the Scheme.
In accordance with the Scheme, Network18 will issue and allot to the shareholders of Infomedia18 as on the record date, 7 (Seven) equity shares of Rs. 5/- each of Network18 for every 50 (Fifty) Equity Shares of Rs. 10/- each of Infomedia18. Shareholders of Infomedia18 shall continue to hold their original shareholding in Infomedia18. |
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