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| PSTL clarifies that Nirmal Kotecha is not a promoter/director currently |
| Announcement / Corporate Jan 15, 2009, 20:18 IST |
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Pyramid Saimira Theatre Limited (PSTL) has informed the stock exchanges that the holding of Mr. Nirmal Kotecha comes down to just 67,502 shares which amounts to 0.24 % stake in the company. It also clarified that he has resigned from directorship in the month of November itself and he is neither a director nor a major stake holder of the company nor is he involved in any activity of the company. The company is also filing necessary declarations to the effect that Mr. Nirmal Kotecha is also not currently a person acting in the co
Immediately after PSTL’s IPO, Mr. Kotecha held 70,36,619 shares, representing 24.89% of the capital of the company. As the majority stakeholder, he was inducted as a Director on the Board of the Company, while Mr. V. Natarajan, Mr. N. Narayanan and Mr. P.S. Saminathan remained the core promoters of the company.
Mr. Kotecha resigned from the Board of Directors of Pyramid Saimira Theatre Limited on November 17, 2008 and has diluted his stake in the company through an open market sale.
About Pyramid Saimira Group:
Pyramid Saimira, a holistic Indian multinational entertainment company, operating in 6 countries is one of the World’s fastest growing entertainment group. Its diversified businesses include Exhibition (Theatre), Film and Television Content Production, Distribution, Hospitality, Food & Beverage, Animation and Gaming, Cine Advertising, etc. which has propelled it to take the entertainment industry to the next level. The flagship company (viz.,PSTL) has in the last few years ramped up aggressively and has transformed into a corporate group through its focus on strategic acquisitions and its robust business model. Currently, it has a strong presence in all streams of entertainment business in India.
The Group comprises of 13 companies, viz., Pyramid Saimira Theatre Ltd., Pyramid Saimira Production International Ltd, Pyramid Saimira Content Distribution Pvt Ltd., Pyramid Saimira Entertainment Ltd., Singapore, Pyramid Saimira Theatre Chain (Malaysia) Sdn.Bhd., Pyramid Saimira Production Services Ltd., Pyramid Saimira Entertainment America Inc., Pyramid & Longzhe Culture And Theatre Ltd., China, Aurona Advertising Pvt. Ltd., and Saimira Realty Ltd.
About Pyramid Saimira Theatre Limited
PSTL is India’s largest theatre chain company operating with an unbeatable dominant presence across South India. Digitalization was the first step for the company to gain a bigger growth momentum. In the exhibition sector its mammoth network includes 745 plus screens with 4.69 lakhs plus seats across India, Malaysia, China, Singapore and North America spread over 5 million sq.ft. By 2010, the Group plans to operate 2,000 screens in India alone (with 175 multiplexes and stand alone theatres). More information is available at www.pstl.in.
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