Hindustan Media Ventures has informed that the Board of Directors of the Company at its meeting held on 22nd July, 2019, had approved to invest up-to Rs.73 Crore, in tranches by subscribing to convertible securities of Autope Payment Solution (Formerly known as 'Anduril Technologies). As per the terms of the agreement, the Company is now converting Tranche 1 investment (which was made into convertible share warrants of Autope) into equity shares of the Autope and consequent upon such conversion, the holding of the Company in Autope shall be in excess of 5% of its total shareholding. In view of the above, disclosure as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular dated 9th September, 2015 are enclosed herewith.
The above information is a part of company’s filings submitted to BSE.