TV Today Network Ltd has informed that the Board of Directors of the Company at its meeting held on October 26, 2007, inter alia, has approved the merger of Radio Today Broadcasting Ltd (RTBL), a fellow subsidiary company, with the Company w.e.f. April 01, 2007 subject to the approval of the High Court and other regulatory approvals as may be required. The Board further approved the swap ratio of 5:9 i.e. for every 9 shares of RTBL, 5 shares of the Company will be issued to the shareholders of the RTBL. This will result in fresh issue of 55,20,000 equity shares of Rs 5/- each of the Company to the shareholders of RTBL.
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