Pursuant to Regulation 30 of the Listing Regulations, UFO Moviez India has informed that the Company has today approved and executed the Business Transfer Agreement (‘BTA’), with United Mediaworks (UMW’), for acquisition of their digital cinema deployment business (‘Business Undertaking’) as a going concern on a slump sale basis. Further, as per the terms of BTA, the Company has entered into non-compete agreement with UMW, its promoters, and key person. The Meeting of the Board of Directors of the Company commenced at 09:00 am and concluded at 09:35 am. The detailed disclosure as required under Regulation 30 of the Listing Regulations (as amended from time to time) read with SEBI Master Circular no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, is enclosed as Annexure to this intimation.
The above information is a part of company’s filings submitted to BSE.
