Siti Networks Ltd - 532795 - Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011.
The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on February 19, 2021 for Direct Media Solutions LLP Siti Networks Ltd - 532795 - Announcement under Regulation 30 (LODR)-Diversification / Disinvestment
We would like to inform you that today i.e. on February 15, 2021, Variety Entertainment has sold the balance 1600 Equity Shares to Rajalakshmi Communications and Services Private Limited at an aggregate consideration of Rs.2,40,00,000/- (Rupees Two Crore Forty Lakh Only). Siti Networks Ltd - 532795 - Announcement under Regulation 30 (LODR)-Diversification / Disinvestment
This is with reference to our communication dated February 5, 2021, pursuant whereof we have, inter alia, informed that the Board of Directors of the Company in their meeting held on February 5, 2021 had approved the sale of 6,667 Equity Shares held by Variety Entertainment Pvt. Ltd. ('Variety Entertainment'), being wholly owned subsidiary company of the Company, in the Equity Share Capital of Voice Snap Services Pvt. Ltd. ('Voice Snap'). In this context, we would like to update you that out of said 6,667 Equity Shares of Voice Snap, Variety Entertainment has sold on February 9, 2021, 4400 no. of Equity Shares to Rajalakshmi Communications and Services Private Limited at an aggregate consideration of Rs.6,60,00,000/- (Rupees Six Crore Sixty Lakh Only) and 667 no. of Equity Share to Kalisp Reality Private Limited at an aggregate consideration of Rs. 1,00,05,000/- (Rupees One Crore Five Thousand Only). Further, sale of balance 1600 no. of Equity Shares of Voice Snap is in process.
Siti Networks Ltd - 532795 - Announcement under Regulation 30 (LODR)-Newspaper Publication
This is in continuation to our communication dated February 5, 2021, wherein the Company had duly submitted the Un-audited Financial Results of the Company for the third quarter of financial year 2020-21 and nine months ended on December 31, 2020, in the format specified under Regulation 33 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 together with the Earning Release and Limited Review Report of Auditors' (on Standalone and Consolidated financial statements). In this regard, please find enclosed herewith extract of Financial Results of the Company duly advertised and published in two newspapers viz. 'Business Standard' '(All Editions) in English language newspaper and 'Mumbai Lakshadeep' (Mumbai Edition) in Marathi language newspaper on February 6, 2021. Siti Networks Ltd - 532795 - Announcement under Regulation 30 (LODR)-Diversification / Disinvestment
Approved the sale of 6,667 Equity Shares (constituting 40% Equity Stake) held by Variety Entertainment Pvt. Ltd. ('Variety Entertainment'), being wholly owned subsidiary company of the Company, in the Equity Share Capital of Voice Snap Pvt. Ltd. ('Voice Snap') at an aggregate consideration of Rs.10,00,05,000/- (Rupees Ten Crore Five Thousand Only). The Board is of the view that the technology and expertise of Voice Snap can not be used for the business of the Company or Variety Entertainment or any other group company/subsidiary of the Company. Moreover, since Voice Snap uses Primary Rate Interface ('PRI') lines of telecom at core of their solution. The Board is of the view that it may not bring in synergies and future growth of Variety or the Company or any other group company/subsidiary of the Company. The Company shall keep updating the Stock Exchanges about the developments in this regard. Siti Networks Ltd - 532795 - Announcement under Regulation 30 (LODR)-Change in Directorate
approved the appointment of Mr.Raj Kumar Gupta as Additional Directors in the category of Independent Directors with effect from February 5, 2021. The said appointments has been done on the basis of recommendation of Nomination and Remuneration Committee, confirming that Mr.Raj Kumar Gupta is not debarred from holding the office of Director pursuant to any SEBI order or any other authority. Relevant details in connection with above appointment of Director of the Company, as per Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are enclosed herewith as Annexure-I. Siti Networks Ltd - 532795 - Proceedings Of The Board Meeting Held On February 5, 2021
The Board of the Company at its meeting held today has inter-alia,-: (i) considered and approved the Un-Audited Financial Results of the Company; (ii) approved the sale of 6,667 Equity Shares (constituting 40% Equity Stake) held by Variety Entertainment Pvt. Ltd. ('Variety'), being wholly owned subsidiary company, in the Equity Share Capital of Voice Snap Pvt. Ltd. ('Voice Snap') at an aggregate consideration of Rs.10,00,05,000/-. The Board is of the view that the technology and expertise of Voice Snap can not be used for the business of the Company or Variety or any other group company/subsidiaries. Moreover, since Voice Snap uses PRI lines of telecom at core of their solution. The Board is of the view that it may not bring in synergies & future growth of Variety or the Company or any other group company/subsidiaries. (iii) approved the appointment of Mr.Raj Kumar Gupta as Additional Directors in the category of Independent Directors with effect from February 5, 2021. Siti Networks Ltd - 532795 - Results - Financial Results For The 3Rd Quarter And Nine Months Ended December 31, 2020
The Board of Directors of the Company at their meeting held today i.e. on February 5, 2021, has inter-alia, considered and approved the Un-Audited Financial Results of the Company; We are enclosing herewith a copy of un-audited Financial Results along with Earning Release and Limited Review Certificate(s) on both standalone and consolidated Financial Statements, issued by the Statutory Auditor of the Company. Siti Networks Ltd - 532795 - Announcement under Regulation 30 (LODR)-Resignation of Director
This is to inform you that Mr. Deepak Mittal, Independent Director of the Company has vide his resignation letter dated February 3, 2021, resigned from the Board of the Company with effect from close of business hours on February 3, 2021, on account of other professional obligations and commitments. We further confirm that there is not other material reason for his resignation other than those provided above. Pursuant to Regulation 30(2) read with Part A of Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, you are requested to please take on record the resignation of Mr. Deepak Mittal with effect from close of business hours on February 3, 2021.