Scrabble Entertainment DMCC acquires balance stake in SAVET LLC

Scrabble Entertainment DMCC ('SEDMCC'), a step down wholly owned subsidiary of UFO Moviez India Limited has acquired balance 51% of the share capital of its Associate, Scrabble Audio Visual Equipment Trading LLC - Dubai, U.A.E. ('SAVET LLC') from an existing shareholder.

Subsequent to the acquisition SAVET LLC has become a wholly owned subsidiary of SEDMCC and a step down wholly owned subsidiary of the Company.

SAVET LLC, is a Limited Liability Company registered with the Department of Economic Development, Government of Dubai in accordance with the UAE Federal Law No. 2 of 2015 and its amendments, under the Commercial License No. 809449 issued on June 25, 2018.

The registered office of the Entity is 108, Alphamed Building, Abu Hail, Deira, Dubai, United Arab Emirates.

The principal activity of the Entity is trading in and servicing of Audio-Visual, Recording equipment and accessories.

Shares of UFO Moviez India Limited was last trading in BSE at Rs. 106.25 as compared to the previous close of Rs. 106.90. The total number of shares traded during the day was 4069 in over 49 trades.

The stock hit an intraday high of Rs. 108.50 and intraday low of 104.35. The net turnover during the day was Rs. 432944.00.

Source : Equity Bulls

Keywords

UFOMoviezIndia INE527H01019 ScrabbleEntertainmentDMCC Acquisition BalanceStake SAVETLLC