UTV Software to increase authorised share capital, issue shares at Rs.192.5

UTV Software Communications Ltd has announced that the members at the Annual General Meeting (AGM) of the Company held on August 24, 2006 inter alia, have passed the following resolution/s:

1. Approved the increase in Authorised share capital from Rs 21 Crores to Rs 26 Crores and its consequential amendment to the Memorandum and Articles of Association of the Company.

2. Approved the issue of issue of 19,49,360 warrants convertible into 19,49,360 equity shares of the Company to Mr. Rohinton Screwvala at a price of Rs 192.50 per share.

3. Approved the issue of issue of 34,00,000 equity shares of Rs 10/- each of the Company to The Walt Disney Company (Southeast Asia) Pte Ltd at a price of Rs 192.50 per share.

Source : Equity Bulls

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