Compact Disc to allot convertible warrants to iMedia Ventures and Pariscope Pictures

Compact Disc India Ltd has announced that the Board of Directors of the Company at its meeting held on October 17, 2008, inter alia, has approved the terms of USD 10 Million debt offered by iMedia Ventures Ltd. As the Company has surplus liquid funds, this debt will be raised for the expansion of overseas operations of the Company.

To convene an Extra-Ordinary General Meeting of shareholders of the Company on December 05, 2008 for obtaining approval for the allotment of Convertible Warrants on Preferential basis to iMedia Ventures Ltd (an overseas Company) and Pariscope Pictures Pvt. Ltd, Mumbai.

The stock was trading at Rs.34.80, up by Rs.1.10 or 3.26%. The stock hit an intraday high of Rs.37.25 and low of Rs.33.35.

The total traded quantity was 83453 compared to 2 week average of 80733.

Source : Equity Bulls

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