Adlabs Films to consider amalgamation of Katch 22 Entertainment Pvt Ltd

Adlabs Films Ltd has announced that a meeting of the Board of Directors of the Company will be held on April 26, 2007, inter alia, to consider the quarterly unaudited financial results for the quarter ended March 31 2007 and also to consider a proposal, for the amalgamation of its wholly owned subsidiary Katch 22 Entertainment Pvt Ltd, pursuant to a scheme of arrangement under Sections 391-394 of the Companies Act, 1956.

The aforesaid amalgamation, if approved by the Board, shall be subject to all requisite permissions, sanctions and approvals, including in particular the approvals by the concerned Companies and their respective shareholders.

The stock closed the day at Rs.421.45, down by Rs.8.35 or 1.94%. The stock hit an intraday high of Rs.434.70 and low of Rs.420. The total traded quantity was 30721 compared to 2 week average of 45679.

Source : Equity Bulls

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