|
| Exchange Received Time 01/05/2018 12:57:12 Exchange Disseminated Time 01/05/2018 12:57:19 Time Taken 00:00:07 | Re: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Dear Sirs,
This is to inform you that the Board of Directors of the Company, at its meeting held on April 30, 2018, inter-alia, considered and approved transfer of upto 7.38% stake of the Company @ Rs. 59,824/- per Equity share in Red Pixels Ventures Limited (RPVL), a material subsidiary of the Company, to A R Chadha And Co (India) Private Limited ('the buyer'), the landlord of the office premises in New Delhi. The Company and NDTV Convergence Limited currently hold 37.04% and 55.57% respectively in RPVL. Transfer of aforesaid shareholding by the Company will be reduced basis the exercise of the tag along right by other shareholders of RPVL. The sale proceeds will be utilized by the Company for working capital including in relation to payment of outstanding rent by Company.
This is for your information and records.
|
|
|