Picturehouse Media Ltd. to acquire New Cyberabad City Projects Pvt Ltd.

The board of directors of Picturehouse Media Ltd. has approved the acquisition of 10,10,000 equity shares of Rs.10/- of New Cyberabad City Projects Pvt Ltd. for a consideration of Rs. 32,52,09,900/- ("Total Consideration"). The consideration payable shall be discharged by way of Cash, in tranches.

The Company is planning to foray into real estate industry and in the Annual General Meeting held on 30th September 2022 had altered MOA to additionally include real estate as its business.

The acquisition of Shares shall be subject to such regulatory / statutory approvals as may be required under applicable laws.

EQUITYBULLS