Prime Focus Ltd has informed that the Board of Directors of the Company at its meeting held on June 23, 2008, inter alia, has approved a scheme of arrangement of merger of subsidiary Storemedia Technologies Pvt Ltd with the Company under Section 391 to Section 394 of the Companies Act, 1956, subject to members approval, High Court approval and various other permissions / approvals.The Board of Directors of the Company has approved issuing of 100 shares for every 45 shares held by members of Storemedia Technologies Pvt Ltd. This will entail issuing 1,00,000 equity shares from Prime Focus Ltd.
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