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News Details

HT Media - Announcement under Regulation 30 (LODR)-Scheme of Arrangement

Back
11/02/2021 18:56
In compliance with Reg. 30 of the SEBI LODR read with Circular no. CIR/CFD/CMD/4/2015 dated 9th September, 2015 , we hereby submit the outcome of the meeting of the Board of Directors of HT Media Limited held on 11th February, 2021.
After taking into consideration the reports capturing recommendations of the Audit Committee and the Committee of Independent Directors and benefits of the proposed arrangement to the Company, the Board has approved a Composite Scheme of Amalgamation of Digicontent Limited , Next Mediaworks Limited & HT Mobile Solutions Limited with HT Media Limited and their respective shareholders and creditors under Sections 230 to 232 and other applicable provisions of the Act and the Rules framed thereunder.
The Scheme is subject to receipt of approvals of shareholders and creditors of companies involved and approval of other regulatory authorities as may be required, including those of the NSE, BSE, SEBI and the Hon'ble NCLT, New Delhi & Mumbai Bench, as applicable.