Picture Company, a television serial producer has
tied up with Movie Makers International (MMI) of Dinesh
Bansal to produce three fiction serials.
company as part of the agreement has decided to issue
2.5 lakh equity issues on preferential basis to Mr
Bansal for consideration other than cash as per SEBI
guidelines according to a company release here.
will enter into a joint venture with the company to
produce serials. The preferential issue is being made
against a value consideration of Rs 1.12 crore weighted
average for one serial as per the valuation report
received from an independent qualified valuer.
company in a release here said, as and when the first
and second series were also allocated to the joint
venture, the company propose to issue an additional
issue of 250,000 shares as valued consideration for
each serial. An extraordinary general body meeting
of the shareholders will be held on March 15 to ratify
the proposal, the release said.