Board of Paramount Communications approves preferential issue of shares

At meeting held on 28 April2 018

Paramount Communications announced that the Board of Directors in their meeting held on 28 April 2018 approved the following:

To issue and allot, subject to the approval of the shareholders of the Company, a maximum of upto 1,70,00,000 (One Crore Seventy Lakh) equity shares of the Company of face value Rs. 2/- each ('Equity Shares') to the Promoters and persons/entities forming part of the Promoter Group.

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