Innovatus Entertainment Networks Ltd to consider acquisition of Aventex Media & Technologies Ltd

A meeting of the Board of Directors of Innovatus Entertainment Networks Limited will be held on Tuesday, June 25, 2024, to consider, the increase in authorised share capital of the company up to Rs. 25,00,00,000 (Rupees Twenty Five Crore) by addition of Rs. 21,00,00,000 (Rupees Twenty One Crore) in the existing capital of the company, subject to approval of members in ensuing general meeting.

The board will approve the acquisition price for acquisition up to 2,37,02,985 i.e. 86.92% equity shareholding of M/s. Aventez Media & Technologies Limited ("AMTL") at a price which arrived as per the valuation report given by the Registered valuer, by issuance and allotment of fully paid-up equity shares of the Company by way of swap of equity shares which will be determined in accordance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations"), for a consideration other than cash (share swap) (for discharge of entire purchase consideration) to the shareholders of M/s. Aventez Media & Technologies Limited ("AMTL").

The board will approve offer, Issue, and allot Equity Shares of the company on a Preferential Basis to the shareholders of M/s. Aventez Media & Technologies Limited ("AMTL") for consideration other than cash (share swap) which will be determined in accordance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations"), for a consideration other than cash (share swap) (for discharge of entire purchase consideration) to the shareholders of M/s. Aventez Media & Technologies Limited ("AMTL").

Source : Equity Bulls

Keywords

InnovatusEntertainmentNetworks Acquisition AventexMediaandTechnologies