Compact Disc Board approves investments, to set up Animation Studio

Compact Disc India Ltd has announced that the Board of Directors of the Company at its meeting held on July 26, 2007, inter alia, has transacted the following :

1. The Board has approved to invest SGD 1.00 million in cash, to acquire 1,000,000 equity shares at face value of SGD 1.00 at par of Interactive Creative Media Pte. Ltd., Singapore during the current fiscal year.

2. (i) The Board has approved to invest GBP 1.00 million, in consideration other than cash to acquire 1,000,000 equity shares at face value of GBP 1.00 at par of MediaOne Venutres Ltd., London during the current fiscal year.

2. (ii) The Board has approved to invest GBP 250,000, in cash to acquire 250,000 equity shares at face value of GBP 1.00 at par of Media Venutres Ltd, London during the current fiscal year.

3. The Board has approved to set-up a state-of-the-art Animation Studio in Kinfra Speical Economic Zone for Animation & Gaming Development at Thiruvananthapuram, Kerala for which industrial land has already been allotted.

Source : Equity Bulls

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