UTV Software Communications’ board has approved a proposal from promoter Walt Disney Company, South East Asia to delist shares of the firm from all stock exchanges. The delisting will be at a price not exceeding Rs 1,000 a share and the offer will be made in accordance to the regulatory norms.
At present, Walt Disney holds 20.4 million shares or 50.44% of the current paid-up equity share capital of the company, while the remaining 19.82% is held by Rohinton Screwvala, Unilazer Exports and Management Consultants, Unilazer (Hong Kong) and Zarine Mehta. Post-delisting, Walt Disney will acquire the 19.82% stake from the remaining promoters at the same price as discovered during the delisting offer.
UTV is the No.1 media and entertainment brand in South Asia which reaches out to over 250 million consumers. This leading global media conglomerate in motion picture, television, interactive --the only Indian company to enjoy global presence in the game space.
| Company Name | CMP |
|---|---|
| Zee Entertainment | 82.02 |
| Sun TV Network | 597.30 |
| GTPL Hathway | 69.91 |
| Network 18 Media Inv | 33.26 |
| TV Today Network | 110.30 |
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