Sri Adhikari Brothers Television Network Ltd approves issue of 2381068 RPS

The Board of Directors of Sri Adhikari Brothers Television Network Ltd at its meeting held on March 10, 2016, has approved the issue and allotment of 2,381,068 fully paid-up Redeemable Preference Shares of the face value of Rs. 10/- each of the Company to the shareholders of Sri Adhikari Brothers Assets Holding Private Limited on proportionate basis pursuant to Clause 16.1 of Part III of the Composite Scheme of Amalgamation and Arrangement between Maiboli Broadcasting Private Limited and Sri Adhikari Brothers Assets Holding Private Limited and Sri Adhikari Brothers Television Network Limited and UBJ Broadcasting Private Limited and HHP Broadcasting Services Private Limited and MPCR Broadcasting Service Private Limited and TV Vision Limited and SAB Events & Governance Now Media Limited and their respective shareholders ('the Scheme').

Shares of SRI ADHIKARI BROTHERS TELEVISION NETWORK LTD. was last trading in BSE at Rs.389.2 as compared to the previous close of Rs. 370.1. The total number of shares traded during the day was 21767 in over 314 trades.

The stock hit an intraday high of Rs. 390.2 and intraday low of 370. The net turnover during the day was Rs. 8180085.

Source : Equity Bulls

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