ITV

Tag: Michelle

  • Michelle joins Balaji Telefilms board

    MUMBAI: Star Group chief executive officer Michelle Guthrie and John Yu Leung Lau, nominees of Asian Broadcasting FZ LLC (ABF), have joined the board of Balaji as additional directors from 24 January.

    Star Group affiliate ABF had acquired 21 per cent stake of the total post issue paid up share capital of Balaji Telefilms for Rs 1.23 billion. ABF then made an open offer and had to bring down its total stake in Balaji Telefilms from 32.24 per cent to 25.99 per cent as per regulatory norms.

    DSP Merrill Lynch picked up 6.29 per cent stake in Balaji from ABF in a subsequent development.

    The merchant banker to the offer by Asian Broadcasting, intimated the company about the completion of all formalities including payment of consideration to the shareholders who accepted the offer and having complied with the requirements of SEBI (Substantial Acquisition and Takeovers) Regulation 1997.

  • Michelle joins Balaji Telefilms board

    MUMBAI: Star Group chief executive officer Michelle Guthrie and John Yu Leung Lau, nominees of Asian Broadcasting FZ LLC (ABF), have joined the board of Balaji as additional directors from 24 January.

    Star Group affiliate ABF had acquired 21 per cent stake of the total post issue paid up share capital of Balaji Telefilms for Rs 1.23 billion. ABF then made an open offer and had to bring down its total stake in Balaji Telefilms from 32.24 per cent to 25.99 per cent as per regulatory norms.

    DSP Merrill Lynch picked up 6.29 per cent stake in Balaji from ABF in a subsequent development.

    The merchant banker to the offer by Asian Broadcasting, intimated the company about the completion of all formalities including payment of consideration to the shareholders who accepted the offer and having complied with the requirements of SEBI (Substantial Acquisition and Takeovers) Regulation 1997.

  • Balaji Telefilms allots shares to Star, Michelle on board

    MUMBAI: Balaji Telefilms on Monday announced allotment of 21 per cent (13,694,193 equity shares) of the total post issued paid up share capital of the company to Asian Broadcasting FZ-LLC (ABF), a Star Group affiliate, for Rs 1.23 billion.

    Star Group chief executive officer Michelle Guthrie and John Yu Leung Lau, nominees of ABF, have joined the board of Balaji as additional directors. Guthrie is appointed as a non-retiring director, the Balaji board said at its meeting today.

    ABF will, along with its open offer, acquire 32.24 per cent of the total paid up post issue share capital of Balaji Telefilms. But it will reduce its shareholding in Balaji to 25.99 per cent by 7 July 2005, as required by the Foreign Investment Promotion Board (FIPB) approval.

    Guthrie and Lau have been appointed as the additional directors with effect from the date on which the open offer made by ABF for the shares of Balaji Telefilms is completed, an official release said.

    The Balaji board has convened an extraordinary general meeting of the shareholders on 25 February to obtain the shareholders approval for appointment of the new directors.