UFO Moviez India Ltd. to Sell 48.11242% Stake in Associate Company, Mukta V N Films Limited
Nov 22 2024 | 9 hours agoUFO Moviez India Ltd. has proposed to sell its stake in associate company, Mukta V N Films Limited, through a Securities Purchase Agreement (SPA). The company intends to sell 30,59,950 equity shares, representing 48.11242% of the equity share capital, to Maverick Media Private Limited. Additionally, the company will sell 10 equity shares from each of the Nominee Shareholders and 2,40,000 share warrants owned by the company. The transaction is not a related party transaction and the Purchaser does not belong to the promoter/promoter group. The sale is expected to be completed by November 30, 2024, or such other date as may be mutually agreed between the parties, for an aggregate consideration of Rs. 3,30,00,000.
- UFO Moviez India Ltd. to sell 48.11242% stake in Mukta V N Films Limited
- Transaction to be executed through a Securities Purchase Agreement (SPA)
- Maverick Media Private Limited to purchase the stake
- Aggregate consideration of Rs. 3,30,00,000 for the transaction
- Transaction is not a related party transaction