Perfect-Octave Media Projects Ltd has informed BSE that in the previous meeting of the Board of Directors of the Company held on May 21, 2011, the proposal of inter alia, Merger/Scheme of Arrangement with M/s. Gandhar Media Ltd (GML) was discussed at length.
Further to the above, the Company has now informed BSE that a meeting of Board of Directors of the Company was held on June 03, 2011, to consider the matter of said Scheme of Arrangement. The Board considered the same and approved the Scheme of Arrangement which includes inter alia, merger of M/s. Gandhar Media Limited into M/s. Perfect-Octave Media Projects Limited.
The proposed merger would bring in huge inventory of video/audio content in the targeted segment for the proposed TV Channel. Additionally, M/s. Cafe 9 Media Pvt Ltd, a subsidiary of GML with excellent brand in the field of Corporate Gifts Business and top line of approx Rs. 8 Cr for the year ended March 31, 2011, would also become subsidiary of the Company by virtue of the proposed Scheme of Merger/Arrangement.
Sensex
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Friday, June 03, 2011
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