PVR Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 07, 2013 approved in-principle the proposed amalgamation of Cinemax India Limited a Mumbai based listed Company and Cine Hospitality Private Limited a wholly owned subsidiary of the Company with PVR Limited.

The Board further approved the appointments of the following:

1. AXIS Capital Category-I Merchant Banker inter-alia for providing Fairness Opinion Report.

2. HARIBHAKTI & Co. and SSPA & Co. as Joint Valuers for valuation of PVR Limited and Cinemax India Limited for determining the swap ratio for the proposed merger.

3. Restructuring Management Group a firm of Advocates to represent the companies before the High Court and other concerned authorities for the proposed amalgamation of Cinemax India Limited and Cine Hospitality Private Limited with PVR Limited.

The Board also approved formation of a Committee to authorize its officials to take all necessary steps from time to time regarding the proposed amalgamation as aforesaid.