Rap Media - Adlabs agreement

Rap Media Ltd has announced the execution of agreements with Adlabs Films Ltd for the Company's various existing and proposed sites at Agra, Meerut, Jallandhar, Amritsar, Ludhiana, Mohali & Patiala.

The Agreement pertain to :

1. The sale of Multiplex and Foodcourt area in Agra.

2. Leasing of Multiplex in Meerut and Revenue sharing of other area in Meerut.

3. Leasing of Multiplex in Amritsar, Ludhaina, Mohali, Patiala & Jallandhar.

Rap Media

With reference to the news item appearing in a leading financial daily titled "Open Offer talk helps Rap step up the rate", Rap Media Ltd has clarified that the news item is speculative in nature. After reading the news item the Company checked the shareholding of Jai Corp Ltd., Nidhi Polyester Ltd and Polyole Fiber Ltd and found that it remains unchanged. All these three entities have not purchased any shares and therefore their shareholding remains the same as was after the Company made allotment to them on preferential basis. The Company has also not received any communication from these entities regarding their intention to purchase additional shares from the market or in any way increasing their shareholding.

Therefore the Company has no comments to offer on the aforesaid news item.