Digicontent board approves composite scheme of amalgamation with HT Media

The scheme involves the amalgamation of three transferor companies Digicontent, Next Mediaworks and HT Mobile with transferee company HT Media.

Feb 12, 2021 09:02 IST India Infoline News Service

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Digicontent Limited Board on Thursday has considered and approved a Composite Scheme of Amalgamation of three transferor companies Digicontent Limited (DCL), Next Mediaworks Limited (NMW) and HT Mobile Solutions Limited (HTMS) with transferee company HT Media Limited (HTML) and their respective shareholders and creditors.

“The Board has, inter alia, given authorization to file the Scheme along with relevant disclosures, documents, certifications, undertakings etc. with the stock exchanges for obtaining their NoObjection letter under Regulation 37 of the SEBI LODR. The Scheme is subject to receipt of approvals of shareholders and creditors of companies involved and approval of other regulatory authorities as may be required, including those of the National Stock Exchange of India Limited, BSE Limited, Securities and Exchange Board of India and the Hon’ble National Company Law Tribunal, New Delhi and Mumbai Bench (NCLT), as applicable,” DCL said in a regulatory filing on Thursday.

At around 9.40 am, Digicontent Limited was trading at Rs16.19 per piece down Rs0.85 or 4.99% on the BSE.

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