Scrip Name: GV FILMS
Scrip Code: 523277
FaceValue: 1
RESULTS:upto sep2005
Netsales: 7.4Cr(sep-05),2.9Cr(jun-05),1.2Cr(mar-05),0.5Cr(dec-04)
Operating profit: 1.1Cr,0.5Cr,0.3Cr,0.02Cr respectively
Profit after Tax: 1.0Cr, 0.5Cr,0.3Cr,0.02Cr respectively
EPS:
0.19, 0.09, 0.01 respectively
Shareholding:
Indian promoters:16.67%
Private Corporate Bodies:14.08%
Indian Public: 67.95%
NRIs/OCBs: 0.69%
Announcements:
(1).GV Films Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 17, 2006, has given in-principle approval to the placement proposal of investments from Hythe Securities Ltd, of Hythe House, London, for USD 12 million (apprx Rupees fifty five crores) to be placed against the proposed GDR of the Company - the size between USD 20 - 25 million filed at Luxemburg Stock Exchange and also filed for "in principle approval" at Indian stock exchanges by the Company, subject to all Statutory Formalities and clearance completed in Indian and International agencies like Stock Exchanges and other Government Bodies for the marketing of the said GDR.
(2).GV Films Ltd has informed BSE that the Company has enter into a MOU with 1-Net Singapore, a leading information-communications solutions provider and a wholly owned subsidiary of MediaCorp Technologies based at Singapore, for serving broadband content aggregated by them. According to the terms of the Contract 1-Net will provide its services as a partner or service provider to the GVFL portal. 1-Net will provide streaming servers and host the data of the GVFL portals to reach its audience around the world. 1-Net is in the process of announcing its partnership with Microsoft as their ongoing relationship to support the needs of the digital streaming platform.
GVFL will have developed the fully functionally streaming web site for Indian movies on Demand through their portal
www.telugupictures.com (which is the GVFL's tech partner Drushya's site) and
www.gvtamilfilms.com. GVFL will stream the files securely on payment to end-user on a per view license.
The project is expected to start by January 2006 and will have to state of the art technological infrastructure for software services and recreational facilities for employees.
Looking to the above developments the Company expects robust growth during the next quarter and ensuing financial years due to our effective focus on offering a broad array of services to our clients around the world. In view of this arrangement the Company hopes to register a healthy turnover of Rs 1500 million and profit of Rs 600 million over a period of next three years from this web-casting division.
(3).GV Films Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 29, 2005, inter alia, has considered and adopted the following:
1. It was agreed to regroup the internet rights of about 5636 films costing about Rs 890 million now in current assets, into fixed assets as the portal for web-casting of these films is under construction.
2. Resignation of Mr. VP Mani as Director was accepted.
3. Ms. Manisha Koirala, a famous Cine-Actress has been appointed as Non - Executive & Independent Director.
4. A Committee was formed to decide the key areas like appointment of merchant bankers and other related bodies, issue size, allotment etc, regarding issue of GDR, ADR, FCCB. The Committee consists of Mr. A Venkatramani, Director, Mr. Mahadevan Ganesh, Director Mr. S Ramanathan, Director, Mr. P Raghuraman, Director and Mr. P Thirumalaikumar Company Secretary of the Company.
5. The Audit Committee, Shareholders Grievance Redressal Committee and Remuneration Committee were reconstituted.
(4).GV Films Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on November 29, 2005, inter alia, to consider the following:
1. Regrouping of internet rights of about 6000 films, now in current assets into fixed assets as the portal for web-casting of these films is under construction.
2. Resignation of Mr. VP Mani, as Director.
3. Appointment of Ms. Manisha Koirala, a famous Cine-Actress as Non-Executive & Independent Director.
4. Forming of committee consists of several directors and management people to finalise the appointment of merchant bankers and other related bodies, issue size, allotment etc. regarding issue of GDR,ADR,FCCB.
(5).GV Films Ltd has informed BSE that Ms Manisha Koirala has agreed to join the Company as its Brand Ambassador. The proposal is taken to the Board for its approval. She will be promoting the Company as its Brand Ambassador in India and Abroad.
(6).GV Films Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 20, 2005,inter alia, has considered the following:
1. The Proposal of Joint Venture with another Indian entity for executing a 'Digipolis' (Entertainment village / Theme Park) was postponed to the next meeting to be held with in 15 days. The Company is considering the offers / proposals received from a numerous Infrastructure / Media companies and negotiations are under going.
2. Approved the proposal & concerned resolution of raising of resources by way of GDR / ADR / FCCB Issue upto $ 25 million. The Board authorized Mr. Mahadevan Ganesh and one more director among the other directors to appoint Lead Manager / Bank.
3. Mr. S Ramanathan, Fellow Member of ICWAI, has been appointed as Non-Executive Director. He is also an associate members of British Institute of Management, UK with 30 years experience on varied areas.
4. Mr. R Baskaran, FCA, a leading Chartered Accountant in Chennai has been appointed as Non-Executive Director.
5. Mr.V Ramasubramaniam alias V Ravee, CEO of the Company has been appointed as Whole Time Director (Production) of the Company.
(7).GV Films Ltd has informed BSE that the Company has launched the production of "Paramapadam" the First ever live 3D Television Serial on August 29, 2005 at AVM Studios at Chennai. Mr. Danniel Symmes from Los Angels, the inventor of 3DR, is appointed to shoot the 52 episode serial along with International Standard Crew. This serial is a bi-lingual production in Tamil and Hindi to be broadcast on leading Tamil and Hindi Channels. The story based on the famous Snake and Ladder game concept. Mr. Naaga is the director of this serial who is well-known director of several successful serials in the recent past. The Lead actor of this serial is the Shakthiman fame Mr. Mukesh Khanna (Beeshmar in Mahabharath).