Film production and distribution firm K Sera Sera (KSS) has increased its stake in Australian gold producer Citigold Corporation to 8.77% by buying additional 3.75 crore equity shares for AUD 3.37 million (about Rs 16 crore).
KSS's wholly-owned subsidiary K Sera Sera Holdings Pty (KSSA), has made the share purchase deal. With this investment, KSSA becomes the single-largest shareholder of Citigold Corporation having invested a total amount of AUD 10.3 million and holds 96,951,372 shares representing 8.77% from 5.11% last year of Citigold share capital.
Citigold has assented to appoint two directors on its board nominated by KSSA in recognition of KSSA becoming the single largest shareholder.
KSS is a content production house that brings together a unique combination of film financing, production and distribution. The company has a net worth of more than Rs 240 crore and is listed on the NSE, BSE & Luxemburg Stock Exchange.
