Dish TV India Ltd to transfer non-core business to subsidiary

The Board of Directors of Dish TV India Ltd at its meeting held on August 26, 2014, has considered and approved the proposal to transfer the Company's non-core business (including set top boxes, dish antenna, and related services) to its Wholly Owned Subsidiary - 'Xingmedia Distribution Private Limited', subject to the approval of the Shareholders' through Postal Ballot and as per the provisions of Section 180(1)(a) and other applicable provisions, if any, of the Companies Act, 2013 read with rules made thereto, and other necessary approvals, if any. Further, the Board authorized a Commit Directors to take all necessary actions/steps that may be required for the said transaction.

The Postal Ballot Notice for seeking the approval of the members of the Company for the matter mentioned in Serial Number 1 above, under the applicable provisions of Companies Act 2013.

The Board approved the issue and allotment of 14,760 fully paid equity shares of Re. 1/- each to 2 (Two) Employees of the Company, pursuant to the ESOP - 2007 Scheme of the Company read with Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999, as amended from time to time.

Shares of DISH TV INDIA LTD. was last trading in BSE at Rs.53.75 as compared to the previous close of Rs. 55.9. The total number of shares traded during the day was 984130 in over 4743 trades.

The stock hit an intraday high of Rs. 56 and intraday low of 53.5. The net turnover during the day was Rs. 53241186.

Source : Equity Bulls

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