Mumbai: Adlabs Films Ltd has declared dividend of Rs 2.25 per equity share (45 per cent) on equity shares of Rs 5 each. The company has also appointed Karan Johar, Gautam Doshi and Shripal Morakhia as directors of the company, liable to retire by rotation.
Adlabs Films also announced the re-appointment of Pooja Shetty and Berjis Desai as directors of the company. These announcements were made at the 19th Annual General Meeting (AGM) of the company held on 29 July.
On the other hand, the company also agreed to adjust the excess of book value of the assets of the Radio Business of the company transferred to Reliance Unicom Ltd (RUL) over the book value of liabilities transferred, as reduced by an amount of Rs 1000 million, which will be recorded as receivable from RUL. Alternately, it could also adjust the excess, if any, of book value of liabilities of Entertainment One (India) Ltd transferred over the fair value of assets taken over, and/or, adjust the excess, if any, of book value of liabilities of the digital cinema business of Mukta Adlabs Digital Exhibition Private Limited over the book value of assets taken over, subject to necessary provisions and approvals.
The shares of Ablabs Films opened at Rs 303 today.