Deccan Chronicle to launch Mangalore and Dharwad Editions

Deccan Chronicle Holdings Ltd has announced that the Board of Directors of the Company at its meeting held on August 25, 2006, inter alia, have accorded to the following:

1. Allow Foreign Institutional Investors (FIIs) to undertake the trading of Equity Shares of the Company listed on the Stock Exchanges, upto 14% of the paid up capital of the Company, subject to necessary provisions & approvals.

2. Authority to explore inorganic growth opportunities and further hereby appoint M/s KPMG to undertake due diligence of the prospective opportunities and submit a report to the Board.

3. The company would utilize an amount of upto Rs 200 million as investment for the purpose of starting the Mangalore and Dharwad Editions.

Source : Equity Bulls

Keywords