Cinemax India: Outcome of Board Meeting | Value Research

Cinemax India: Outcome of Board Meeting

Cinemax India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 07, 2013, has approved 'in-principle' the proposed amalgamation of the Company with PVR Limited, the ultimate holding Company.

The Board further approved the appointments of the following:

1. AXIS Capital, a Category-I Merchant Banker inter-aIia for providing Fairness Opinion Report.

2. Haribhakti & Co. and SSPA & Co., as Joint Valuers for valuation of PVR Limited and Cinemax India Limited for determining the Swap Ratio for the proposed amalgamation.

3. Restructuring Management Group, a firm of Advocates to represent the companies before the High Court and other concerned authorities for the proposed amalgamation of the Company with PVR Limited.

The Board also approved formation of a Committee to authorize its officials to take all necessary steps from time to time regarding the proposed amalgamation as aforesaid.


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