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Prime Focus announced that the Board of Directors of the Company vide Board Resolution passed on 07 April 2015 inter alia, considered and approved the following -
1. The Company has allotted :
a. 23,076,923 equity shares towards cash consideration of Rs 120 crore at a price of Rs 52 per share to Monsoon Studio; and
b. 23,076,923 equity shares towards cash consideration of Rs 120 crore at a price of Rs 52 per share to Reliance MediaWorks and 67,307,692 equity shares towards other than cash consideration towards the transfer of its film and media services business at a price of Rs 52 per share to Reliance MediaWorks.
2. The Board also decided to make an offer for the issuance of up to 2000 unlisted, unrated, redeemable debentures not convertible into equity shares of the Company of face value of Rs 100000 each aggregating Rs 20 crore on a private placement basis.
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