Paramount Communications update on FCCBs holders

Paramount Communications has received an intimation from the Bank of New York, acting as Trustee for the Bonds which were issued by the Company on 23 November 2006, that a meeting of Outstanding Foreign Currency Convertible Bonds (FCCB) holders of the Company holding 1,500 FCCBs of face value USD 5,000 each aggregating to USD 7.50 million was held at the office of Elara Capital (Asia) Pte. Ltd., 30 Raffles Place, #20-03 Chevron House, Singapore 048620 on 21 February, 2018, wherein requisite number of the Bondholders have approved the change in terms of FCCBs which were issued by the Company and were due for redemption on 23 November 2011.

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