For updates visit


Indian Stock Market


ETC Network gets board nod for merger with ZILS

Tuesday, August 7, 2007

Broadcasting company ETC Network on Tuesday said that it has received board of directors' approval for merger with Zee Interactive Learning Systems (ZILS). At a meeting held yesterday, the board approved the scheme of amalgamation with ZILS and their respective shareholders with effect from April 1, ETC Network said in a filing to the BSE.

Pursuant to the merger, ZILS will allot one equity share of Rs 10 each for every two shares of ETC Network. The merger is, however, subject to consent of shareholders, creditors and other necessary approvals.

Post-amalgamation the name of the consolidated entity would be changed to 'ETC Networks Ltd'.

ETC Network is in the business of broadcasting television channels like ETC Music and ETC Punjabi, while ZILS is a diversified education firm.

Posted by FR at 5:43 PM  

Catagories

0 comments:

Post a Comment

Subscribe to: Post Comments (Atom)

IMPORTANT DISCLAIMER

Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.