Pressman Advertising Limited has announced that it has obtained shareholders’ approval for its merger with digital out-of-home ad firm, Signpost India. The approval comes following the board of directors’ endorsement of the scheme of arrangement between Pressman and Signpost in June of last year.
During a shareholders’ meeting held on May 25, 2023, as per the order of the Kolkata bench of the National Company Law Tribunal (NCLT), Pressman sought the approval of its shareholders for the proposed scheme of arrangement. The company released a statement stating that 99.9986% of the votes cast at the meeting were in favor of the scheme, with only a fractional 0.0014% voting against it. The meeting was chaired by Urmila Chakraborty, the Chairperson appointed by the NCLT.
According to the terms of the merger agreement, Pressman shareholders will receive one share of Signpost in exchange for each share they hold in Pressman. Following the completion of the merger, the promoters of Pressman will become co-promoters in the merged entity, joining the existing promoters of Signpost.
The merger between Pressman Advertising and Signpost India is expected to bring together the strengths and expertise of both companies, creating a more formidable presence in the advertising industry. By joining forces, the merged entity aims to leverage synergies and offer a comprehensive suite of advertising services to clients.
The approval from shareholders marks a significant milestone in the merger process, highlighting their confidence in the potential benefits and prospects of the combined entity. The integration of Pressman Advertising and Signpost India is expected to enhance their market position, expand their service offerings, and drive growth in the dynamic advertising landscape.
Pressman Advertising Limited is a well-established advertising company with a strong presence in the industry, while Signpost India is a reputable digital out-of-home ad firm. The merger will allow both companies to capitalize on their respective strengths and create a more robust platform to cater to the evolving needs of their clients.
In an era of rapid technological advancements and evolving consumer preferences, strategic partnerships and collaborations are key to staying competitive in the advertising sector. The merger between Pressman Advertising and Signpost India aligns with this trend, as it enables the combined entity to deliver innovative, integrated advertising solutions that meet the changing demands of the market.
As the merger progresses, Pressman Advertising and Signpost India will work closely together to ensure a smooth transition and integration of operations. The focus will be on maximizing synergies, optimizing resources, and delivering enhanced value to clients.
The merger between Pressman Advertising Limited and Signpost India represents a significant step forward for both companies. By combining their expertise, resources, and client networks, they aim to create a stronger, more competitive entity in the advertising industry. The merged entity will be well-positioned to drive innovation, capture new opportunities, and deliver comprehensive advertising solutions to clients across various sectors.
The merger between Pressman Advertising and Signpost India is a step in that direction, as it enables both companies to leverage their respective strengths and create a more comprehensive and robust service offering. By combining their expertise and resources, they can deliver integrated advertising solutions that cater to the diverse needs of their clients.
As the integration process begins, Pressman Advertising and Signpost India will work closely to ensure a smooth transition and capitalize on the shared opportunities. The focus will be on enhancing operational efficiencies, leveraging synergies, and maximizing client satisfaction.
Overall, the shareholders’ approval paves the way for the successful merger of Pressman Advertising and Signpost India. The combined entity is poised to make a mark in the advertising industry, bringing together the best of both companies to meet the evolving needs of clients and achieve sustainable growth in a rapidly changing business landscape.
