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MUMBAI: Chennai-based Pyramid Saimira Theatre
Ltd (PSTL) chairman PS Saminathan is set to
acquire seven million equity shares of the company
for a proposed price of Rs 1.4 billion.
Saminathan
will buy the 24.9 per cent shares of the company
at a proposed price of Rs 200 per share from
NC Ravichandran and Nirmal Kotecha.
With
this, Saminathan's personal holding in PSTL
will go up to 46.8 per cent, or 13,258,575 shares,
of the total paid up capital.
The
mode of proposed acquisition is by way of Inter-se
Transfer and the date of proposed acquisition
is from 15 October, 2008.
The
shares of PSTL closed 19.97 per cent up at Rs
73.30 on Monday on the BSE.
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