Color Chips Board to consider merger of companies

Color Chips India Ltd has announced that a meeting of the Board of Directors of the Company will be held on July 16, 2007, inter alia, to consider, the proposal of merger of;

1. Color Chips India Ltd
2. Color Chips Animation Park Ltd
3. Millitoon Animation Pvt Ltd

with Color Chips New Media Ltd. The merger is being proposed in order to avoid conflict of interest amongst the Companies and create one mega entity of value and to there by create better value for the share holders of the Company.

The stock closed the day at Rs.9.24, up by Rs.1.02 or 12.41%. The stock hit an intraday high of Rs.9.68 and low of Rs.8.15. The total traded quantity was 485244 compared to 2 week average of 32889.

Source : Equity Bulls

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