Luxembourg bourse raises technical problem with Paramount GDR issue

Mumbai, Apr 11 (UNI) Paramount Communications Ltd proposed Global Depository Receipts(GDR) issue did not open yesterday as scheduled owing to fresh technical issue raised by the Luxembourg Stock Exchange for listing.

Informing the BSE, the Company said as advised by its Lead Manager it was taking back its earlier announcement for opening of GDR issue on April 10. Consequently, the GDR opening and closing dates shall be rescheduled by the Board of Directors of the Company, it added.

Further, the Company has informed that the Board Meeting which was scheduled to be held on April 14 to allot underlying shares represented by GDRs was accordingly being rescheduled.

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