Pyramid Saimira promoter Saminathan reduces stake to 17%

MUMBAI: Pyramid Saimira Theatre Ltd promoter and CMD PS Saminathan has sold 6.037 per cent stake in the company for Rs 64.20 million (Rs 6.42 crores). With this, his holding in the company now stands at 17.99 per cent as opposed to 24.03 per cent earlier.

Saminathan sold 17, 07,000 equity shares in an off-market sale between 20 – 31 December, 2008.

He now holds 5,086,614 equity shares in the company, whereby his stake now stands at 17.99 per cent stake.

Additionally, the company also informed that another promoter Uma Saminathan has offloaded her entire 0.54 per cent holding in the three months ending December 2008, through off-market deals. Uma Saminathan sold over 1.52 lakh shares for Rs 72.96 lakhs between 10 October – 1 December, 2008.

Last week, the company had informed that another promoter Nirmal Kotecha had sold nearly 10 per cent in the company between November and December last year. Post this; Kotecha’s holding in Pyramid Saimira now stands at 15.49 per cent from 24.89 per cent earlier.