JAGRAN PRAKASHAN Share price

HISTORY AND CERTAIN CORPORATE MATTERSOur Company was incorporated on July 18 1975 under the Companies Act as "Jagran Prakashan Private Limited" and subsequently became a deemed public limited company under Section 43A of the Companies Act. In 2000 upon amendment of Section 43A of the Companies Act our Company chose to keep its status as a public limited company pursuant to shareholders resolution passed on August 31 2000. In 2004 our Company was again converted into a private limited company as per the stipulations under the Original Shareholders Agreement and pursuant to shareholders resolution passed on September 28 2004. Further on November 23 2005 our Companywas converted into a public limited company in the light of the Issue pursuant to a shareholders resolution passed on November 18 2005.Acquisition of Business from M/s Jagran PublicationsVide a business purchase agreement dated July 19 1975 executed between our Company and M/s Jagran Publications (a partnership firm) we acquired publication rights of "Dainik Jagran" Kanpur "Dainik Jagran" Gorakhpur "Daily Action" Kanpur and a monthly magazine "Kanchan Prabha" Kanpur. The plant and machinery required for publication of newspapers and magazines were also acquired by us from M/s Jagran Publications byway of a lease agreement dated July 19 1975.Vide an agreement of transfer of patent and copyright dated January 25 1997 executed between our Company and M/s Jagran Publications we acquired the self-generated patent and copyright of the contents which were the absolute and exclusive property of M/s. Jagran Publications and were granted the right to exploit the same globally and universally.Acquisition of Business from Jagran Prakashan (Delhi) Private Limited Jagran Prakashan (Varanasi) Private Limited and Rohilkhand Publications Private LimitedOn March 31 2000 our Company executed separate business purchase agreements with Jagran Prakashan (Delhi) Private Limited ("JPDPL") Jagran Prakashan (Varanasi) Private Limited ("JPVPL") Rohilkhand Publications Private Limited ("RPPL") pursuant to which we acquired on a lock stock and barrel basis their entire undertakings (including all the assets and liabilities) for publication of Dainik Jagran at various centres.Acquisition of Business from Jagran LimitedFurther our Company and Jagran Limited executed a business purchase agreement dated July 5 2000. Prior to the said agreement Jagran Limited published certain editions of Dainik Jagran. Pursuant to the said agreement we acquired on a lock stock and barrel basis from Jagran Limited the entire undertaking for publication of the newspaper.Subsequently our Company and Jagran Limited executed a deed of undertaking dated March 25 2005 which stipulates that Jagran Limited shall not undertake publication of (i) any newspaper with the name "Dainik Jagran" or any other similar name or any combination or variations thereof from any place including Meerut and Dehradun and (ii) any Hindi newspaper from the States of Uttar Pradesh Uttaranchal Haryana Bihar Jharkhand and Punjab. Scheme of AmalgamationIn 2002 by a scheme of amalgamation between JPDPL JPVPL RPPL and our Company sanctioned by the High Court of Allahabad vide its order dated June 1 2002 the whole of the undertakings of each of JPDPL JPVPL and RPPL were transferred to and vested in our Company. Since JPDPL JPVPL and RPPL were our wholly-owned subsidiaries no Equity Shares were allotted in lieu of the shares held by our Company in the said companies. The share capital of each of JPDPL JPVPL and RPPL stood cancelled.Acquisition of Business from Jagran Research CentreIn fiscal 2005 we acquired the research business of Jagran Research Centre a partnership firm in which our Company was holding 89% of the shares prior to the acquisition. We paid Rs. 1.53 million as consideration for the acquisition.Major EventsA chronology of some key events in the history of the Company is setforth below :Year Event 1975 * Incorporation of our Company. * Acquisition of business of M/s Jagran Publications.1979 Launched the Lucknow edition of Dainik Jagran.1986 Launched the Agra edition of Dainik Jagran. 1997 Launched our website www.jagran.com.2000 * Acquisition of businesses of JPDPL JPVPL RPPL and Jagran Limited. * Launched the Hisar and Patna editions of Dainik Jagran2001 Launched the Aligarh edition of Dainik Jagran.2002 Declared India's largest read daily newspaper (Source: IBS 2002)2003 Launched the Ranchi Jamshedpur Dhanbad Panipat and Bhagalpur editions of Dainik Jagran.2004 * Launched the Ludhiana and Haldwani editions of Dainik Jagran. * Started Jagran Solutions our division offering outdoor advertising and event management services.2005 * Became the first Indian newspaper to cross readership beyond 20 million as per NRS survey. * Foreign direct investment by IPCL. * Launched the Muzaffarpur Jammu and Dharamshala editions of Dainik Jagran. * Acquired equity shares in Jagran Publications Private Limited and Jagran Prakashan (MPC) Private Limited * Launched short code services (SMS and IVR/ASR). * Test launched e-paper.