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Our Bureau

Coimbatore June 5 The shareholding of Bennet, Coleman & Co Ltd, proprietors of Times of India group, in Media Video Ltd has gone up to 11.3 per cent following the conversion of warrants into equity shares.

In a notification to the NSE, Media Video Ltd has said BCCL has exercised its option to fully convert warrants into equity shares and the company has allotted 17,33,000 fully paid-up equity shares to the media conglomerate. This had increased the shareholding of BCCL in Media Video from 7.2 per cent to 11.3 per cent.

Media Video had made a preferential allotment of 26,80,538 equity shares to BCCL in August 2005 and the company has that it `may explore the possibilities for another preferential allotment in its real estate division to BCCL in the near future'.

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