Board of Zee Media Corporation approves sale of entire stake held in Ez-Mall Online
At meeting held on 28 June 2018
The Board of Zee Media Corporation at its meeting held on 28 June 2018 approved the following -- Sale of company's entire Equity Stake comprising of 4 Crore Equity Shares of Re. 1 each, in its wholly owned subsidiary Ez-Mall Online to Altilis Technologies, a Promoter Group entity, at an aggregate consideration of Rs. 8.60 crore, being the fair value as determined by M/ s. BDO India LLP, an Independent Valuer; and
- Substitution of Company's investment of Rs. 21.50 crore in the Optionally Convertible Debentures of Ez-Mall into Non-Convertible Debentures of equivalent value of Ez-Mall.
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First Published: Jun 28 2018 | 7:23 PM IST