UFO Moviez India’s step down wholly owned subsidiary -- Scrabble Entertainment DMCC (SEDMCC), has acquired balance 51% of the share capital of its Associate, Scrabble Audio Visual Equipment Trading LLC - Dubai, U.A.E. (SAVET LLC) from an existing shareholder.
Subsequent to the acquisition SAVET LLC has become a wholly owned subsidiary of SEDMCC and a step down wholly owned subsidiary of the Company. Purchase of shares is in ordinary course of business.
UFO Moviez India operates India’s largest satellite-based, digital cinema distribution network (in terms of numbers of screens) using its UFO-M4 platform, as well as India’s largest D-Cinema network (in terms of numbers of screens).
