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Tuesday, February 19, 2008

Mid-day Multimedia to transfer print biz to subsidiary
Mid-day Multimedia on Monday said it will seek shareholders' approval for transferring its print and publishing business to its wholly-owned subsidiary for Rs 17 crore or more.

The firm would seek shareholders permission by way of postal ballot to transfer, sell or dispose off the print and publishing business to its wholly-owned subsidiary, it said in a filing to the Bombay Stock Exchange.

In this regard, the company has appointed Virendra Bhatt as the scrutiniser for conducting the postal ballot. The duly completed ballot form should reach the scrutiniser on or before March 20 and the results would be announced on March 25, it said.

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