HT media to transfer the multimedia content management

HT media is all set to transfer the multi-media content management to its own subsidiary HT Digital Streams.The plan was executed when the Board members of HT Media approved the transfer on a slump exchange basis.

The HT Media informed the BSE that “The Board of Directors of the company has accepted the recommendations of the audit committee for transfer and vesting of its multimedia content management undertaking to and in HT Digital Streams Ltd as a ‘going concern’ on a slump exchange basis with issues of fully paid-up equity shares of the transferee company to the company”.

The valuation report obtained from the CA firm SR Dinodia & Co LLP was the basis on which the slump exchange was derived and was approved by the auditing committee.
The Company stated that the Scheme is subject to various regulatory and other approvals from the Delhi High Court.