Thursday, 31 October 2013

RBNL gets shareholder nod to delist

Anil Ambani led Reliance Broadcast Network Limited (RBNL), which has business interests across television broadcasting, radio, content production, out of home and intellectual properties, has received shareholder nod to voluntarily delist its equity shares from the bourses. 
The board proposal has been approved by 99.3 per cent of the non-promoter group shareholders who indicated their choice through postal ballot. On 18 September, the board of directors of the company had decided to delist equity shares of the company from stock exchanges. 

The board granted its approval to the proposed delisting offer and intended to seek the approval of shareholders of the company through postal ballot. When contacted, the company spokesperson refused to comment on the issue or provide reasons behind delisting from the stock exchanges. 
As of September 2013, Reliance Capital Ltd, Reliance Land Pvt Ltd and Reliance ADA group Trustees Pvt Ltd, the promoter group companies, collectively hold 74.95 per cent of RBNL.


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