In your interest.
Online Personal Finance Magazine
No beating about the bush.
Fame India's board of directors also approved to take note of the public announcements made by INOX Leisure and Reliance MediaWorks
Multiplex operator Fame India Ltd on Tuesday said that it has appointed Future Group chairman Kishore Biyani as an independent director on the board of the company, reports PTI.
The board of directors at their meeting held on 28th February also approved to take note of the public announcements made by INOX Leisure and Reliance MediaWorks, Fame India said in a filing to the Bombay Stock Exchange (BSE).
Last month, multiplex operator INOX Leisure had announced acquisition of a 43.28% stake in Fame India, besides making an open offer for an additional 20% stake.
Following INOX's announcement, Anil Dhirubhai Ambani Group’s (ADAG) three companies— Reliance MediaWorks, Reliance Capital Partners and Reliance Capital also jumped into the race.
Countering the bid by rival INOX Leisure, the three ADAG companies announced an open offer for a 52.48% stake in Fame at Rs83 per share.
The board has also approved the appointment of Pavan Jain and Deepak Asher as directors of the company. Further, it would also take note of the resignation of Balkrishna Shroff from directorship.
Post the above appointments and resignation, the strength of the board of directors of the company is nine, out of which five are independent directors.