Sandesh announces execution of documents

Sandesh Ltd has announced the execution of a Business Co-operation and Arrange Agreement (BCAA) on October 06, 2006 with Bennett Coleman & Co. Ltd.

Under the said BCAA, both the parties have agreed to co-operate with each other, inter-alia, in certain areas of their respective businesses.

Pursuant to the execution of the said BCAA, the Company and its promoters have also executed a Shareholders, Agree and Share Subscription Agreement with Bennett Coleman & Co. Ltd for the issue and allotment of 10,37,714 Equity Shares of Rs 10/- each at an issue price of Rs 262.82 (including a Premium of Rs 252.82 per share) per share to Bennett Coleman & Co. Ltd, subject to the approval of the shareholders in the general meeting.

Source : Equity Bulls

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