Zee Telefilms Updates on allotment of shares in new entities

Zee Telefilms Ltd has announced that, upon the Scheme of Arrangement for Demerger of News Business Undertaking and Cable Business Undertaking of the Company in favor of Zee News Ltd (ZNL) and Wire and Wireless India Ltd (WWIL), respectively, becoming effective from November 22, 2006, the shareholders of the Company whose name appear in the Register of members at the conclusion of Book Closure period shall be entitled to receive:

1. 45.21 fully paid up equity shares of Re 1/- each of ZNL for every 100 equity shares of Re 1/- each: and

2. 1 fully paid equity share of Re 1/- each of WWIL for every 2 equity shares of Re 1/- each; held by them in the Company. For this purpose, the Company has fixed the Book Closure Period commencing from December 24, 2006 to December 28, 2006 (both days inclusive).

Source : Equity Bulls

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