MUMBAI: UMP Plc, the AIM listed company of UTV Motion Pictures, has accepted the resignation of the company’s chief operating officer BL Gautam.
As was reported by Businessofcinema.com, UTV is planning to de-list the company from AIM. UTV Software Communications will acquire the remaining stake of 23.18 per cent in UMP Plc for $195 million with a view to integrate its movie business and bring greater operational efficiencies.
Gautam has resigned from the company in order to pursue other business interests. He has also resigned as COO and director of UTV Motion Pictures (Mauritius) Limited, a subsidiary of the company.