Sun TV allots 2,96,32,000 shares on merger of Gemini TV, Udaya TV

Sun TV Ltd has announced that the Board of Directors of the Company at its meeting held on April 09, 2007, has allotted 2,96,32,000 equity shares to the respective shareholders of Gemini TV Pvt Ltd (GTPL) and Udaya TV Pvt Ltd (UTPL) in the ratio of 1.78 equity shares of the Company for every one share held in GTPL and 19.72 equity shares of the Company for every one share held in UTPL respectively as per the Composite Scheme of Amalgamation and Arrangement as approved by the Hon'ble High Court of Judicature at Madras.

The above equity shares shall rank pari passu in all respects with that of existing shares.

The stock closed the day at Rs.1548, up by 1.43% or Rs.21.75. The stock hit an intraday high of Rs.1555 and low of Rs.1522.

Source : Equity Bulls

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