GV Films Modifies Demerger Scheme; What Happened To Their Webcasting Portal?

BSE list GV Films had earlier approved its demerger into three entities: GV Films, GV Studio City and GV New Media Technologies. They intend to transfer their webcasting operations to GV New Media Technologies. Shareholders were to receive 1 share of face value Re 1 each of GV New Media Technologies and GV Studio City for every three shares of GV Films (of face value Rs. 10), while the face value of parent co GV Films would be reduced from Rs. 10 to Re. 1.

The company has now informed the exchange of a modification in the demerger scheme. Shareholders will now receive 1 share Re 1 each of GV Studio City Ltd and GV New Media Technologies for every 3 shares of face value Rs. 10 of parent co GV Films. The face value of GV Films will remain at Rs. 10. The company has also decided to cancel 313,398,000 equity shares of Rs 10/- of the demerged Company.

I just checked their website, and the domain for their webcasting site GVTamilFilms.com appears to have expired. Logically, even if they did switch to a different domain, one would have expected them to redirect the old domain to the new one. Doesn’t speak very highly of GV New Media Technologies.

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