With reference to news item appearing in leading financial daily titled "Pyramid Saimira close to acquiring UK theatre chain company", Pyramid Saimira Theatre Ltd has clarified to BSE as follows :
(a) The Company in its Board Meeting held on January 31, 2008 has authorised its Managing Director to negotiate for takeover of theater chain in UK। Due to reasons of confidentiality, specific particulars can not be disclosed at this point of time. The Company shall inform to the Stock Exchanges as soon as the arrangements are finalized and approved by the Board.
(b) The Company in its Board Meeting hold on January 17, 2008 had approved a proposal to raise funds to the tune of US$ 400 Million vide various funds mechanisms, subject tonecessary approvals।
(d) The Company and its group are planning to raise huge amount of funds fuelling further expansion and the Company will inform the Stock Exchange as and when funds raising plans are finalized.
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