With reference to the earlier announcement dated January 22, 2008 wherein the Company had informed that New Delhi Television Ltd (NDTV) and an overseas subsidiary of NDTV have signed a Memorandum of Agreement ("MoA") with NBC Universal, Inc. (NBCU) and a subsidiary of NBCU in respect of the sale / issue by an overseas subsidiary of NDTV of an effective 26% stake to an affiliate of NBCU for consideration of USD 150 million. In this regard New Delhi Television Ltd (NDTV) has now informed BSE that the Board / Committee of Directors of the Company at its meeting held on February 07, 2008, has approved the seeking of approval from the shareholders of the Company for the MoA entered amongst Universal Studios International B.V, NBC Universal Inc., New Delhi Television Ltd and NDTV Networks B.V, by way of a Postal Ballot. The Board / Committee of Directors of the Company also authorized execution of any document or contract, to make such regulatory filings and to do all the necessary acts / deeds / things as the Board may, in their absolute discretion, consider to be necessary, appropriate, advantageous, advisable or otherwise desirable to give full effect to the MoA entered into.
February 7, 2008
January 22, 2008
NDTV - NBC MoA for stake sale
New Delhi Television Ltd (NDTV) has informed that NDTV and an overseas subsidiary of NDTV have signed a Memorandum of Agreement ("MoA") with NBC Universal, Inc. (NBCU) and a subsidiary of NBCU in respect of the sale / issue by an overseas subsidiary of NDTV of an effective 26% stake to an affiliate of NBCU for a consideration of USD 150 million. The said subsidiary of NDTV is the indirect parent Company of the following Companies: NDTV Imagine Ltd, NDTV Convergence Ltd, NDTV Labs Ltd, NDTV Lifestyle Ltd, NDTV Emerging Markets B.V and the said subsidiary is a joint venture partner in NGEN Media Services Pvt Ltd.
The MoA also envisages that NBCU affiliates would have the option to acquire up to 50% of said subsidiary in the third year of the joint venture at the then fair market value. The MoA and the transaction contemplated therein are subject to receipt of all necessary approvals. The proposed joint venture shall not relate to news channels in India.
January 9, 2008
NDTV stake sale to NBC
With reference to the news item appearing in a news report titled "NDTV in talks with NBC for stake sale, New Delhi Television Ltd (NDTV) has clarified that the Company is any given point in time involved in talks as part of a constant exploration of possible alliances with prospective partners. The Company does not have any existing contract with any person in respect of the subject matter of the news report.
December 31, 2007
NDTV open offer
Morgan Stanley India Company Pvt Ltd ("Manager to the Offer") on behalf of Dr Prannoy Roy & Mrs Radhika Roy ("Acquirers") and RRPR Holdings Pvt Ltd ("Person Acting in Concert (PAC)") has issued this Public Announcement ("PA") to the equity shareholders of New Delhi Television Ltd ("NDTV")("Target Company"), pursuant to Regulation 11(1) as required under the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 ("SEBI (SAST) Regulations, 1997") and subsequent amendments thereto.
The Offer
The Acquirers along with PAC are making an Open Offer to the shareholders of Target Company to acquire an aggregate of 12,525,336 Equity shares of Rs 4/- each representing 20% of the resulting voting Share Capital of the Target Company at a price of Rs 438.98/- (Rupees Four Hundred Thirty Eight & Ninety Eight Paise Only) per fully paid up equity share/Voting Right ("Offer price"), payable in cash subject to the terms & conditions mentioned in PA.
Equity shares acquired via the Open Offer will be acquired equally between Dr Prannoy Roy & Mrs Radhika Roy. There are no partly paid up equity shares in the Target Company.
Schedule of Activities:
Specified Date - January 11, 2008
Date of Opening of the Offer - February 12, 2008
Date of Closing of the Offer - March 03, 2008
FIIs can buy shares in NDTV as promoters buyback shares
New Delhi Television Ltd (NDTV)has informed that pursuant to acquisition of further stake of 7.73% (48,35,850 Equity shares) in the Company by the Promoters, Dr. Prannoy Roy and Mrs. Radhika Roy from GA Global Investments Ltd, a Foreign Company, the FII limit to the extent of 7.73% stands released and accordingly FIIs / NRIs etc. can now acquire shares in shareholding of the Company.