Crest Animation Studios Ltd. Company History and Annual Growth Details

1990

- The Company was incorporated on 3rd May with the Registrar of
Companies, Maharashtra at Mumbai as CREST COMMUNICATION PRIVATE
LIMITED. Subsequently by a Special Resolution dated 27th June, 1994
the Company was converted into a Public Limited Company and the
Registrar of Companies, has issued a fresh certificate of incorporation
dated 8th July 1994, deleting the word 'PRIVATE' from the name
consequent upon such conversion.

- The Company is promoted by Shri. Shyam Ramanna, who has been a
pioneer in computer generated films in India.

- The Company presently has editing facilities like Betacam Edit
Suites, Low Band and High Band Suites and a Shooting Studio, which have
evoked a favourable response from its clients.

- The Company's plans include, inter alia setting up a sophisticated
Digital Studio with state-of-the-art equipment for production of
advertisement films, Television films and serials, animation films etc.

- The Company proposes to embark upon a major expansion in order to set
up a very sophisticated studio with State-of-the-art equipments for
production of advertisement films, television films and serials, and
animation films.

1992

- The Company has issued and allotted on 20th May, 8,750 No. of Equity
Shares of Rs 100/- each (subsequently sub-divided into Equity shares of
Rs 10/- each) to Shri Shyam Ramanna in consideration of the Company
acquiring 50% of his share in 8B, Neelam Centre, Hind Cycle Road,
Worli, Mumbai 400 025 and vehicles from him.

1994

- The Company has developed in-house substantial technical expertise in
its line of activity.

- The Company proposes to have sophisticated video post-production
facilities based on the latest Digital technology which would compare
well with those available abroad.

1995

- The company embarked on a project for the expansion of the existing
Hi-tech video production and post-production facility with import of
state-of-the art equipments based on the world's most advanced Digital
Technology.

- The Company's equipment being state-of-the-art, have in-built energy
efficient features and as such involve low energy consumption.

- In January, CCL entered the market with a public issue at a premium
of Rs.20 (additionally, it also offered shares at a premium of Rs.30 to
the Tata group) to finance its expansion plans.

1996

- The Company's chat show Purush Kshetra continued to enthrall
television audiences throughout and has been able to bag almost all the
prestigious awards in the Chat Show category.

- As a recognition of the Company's excellent technical and creative
abilities, the following awards have been conferred on the Company by
The Indian Academy of Advertising Film Art (IAAFA): (a) Award for
Technical Innovation/Breakthrough (b) Award for Creative Computer
Graphics (c) Award for Best Commercials under 15 Seconds.

1997

- Crest Communication, has been chosen by Hollywood for 3-D animation
work for a feature film.

1998

- CREST Communication, one of the bigger post-production and studio
outfits in India, has tied up with a top US studio group.

- The company recently even bagged a Clio Award in New York for the
innovative work on its BPL battery ad film. Currently, it is
developing 20 minutes of FX for a south-based film called 'Devi'.

1999

- Crest Communications produces software for television advertisements
and television channels.

- Software solutions provider Crest Communications has become the first
Indian company to enter the advanced virtual reality services market
abroad.

- The company has entered into an agreement with Vartech NV, Belgium,
to provide technical services and related software in virtual and
augmented reality technology.

- Crest Communications Ltd., a pioneer in providing special effects for
television advertisements and films, has come a long way.

- The company has recently entered into an exclusive arrangement for
providing services in the field of 'Virtual and Augmented Reality
Technology' to an European customer who will be responsible for
marketing the services in the European region. Crest will be the first
Indian company to provide such services to the developed markets.

- Mumbai-based Crest Communications is entering feature film production
in a major way.

- CCL is a media entertainment company which is engaged in making
advertisement films of many leading corporate in India. It has the
only fully-integrated post-production facilities in India. Apart from
making corporate films, CCL provides post-production facilities to
advertisement agencies and television channels, produced 3-D & 2-D
animation films, special effects/computer graphics for feature films,
and in-flight entertainment.

- Crest Communications will venture into content and technology
providing for the broadband network in India.

- Crest placed 12,00,000 shares privately at Rs 120 per share with a
group of investors which include Birla Mutual Fund, Kothari Pioneer
Mutual Fund, Magnus Capital of Singapore and others.

- The company is set to co-produce an 80-minute, three-dimensional
animation feature film with Holly-wood's Rich Animation.

2000

- Crest communications possesses clients like Walt Disney, Fantome and
Warner Bros. It has been working for various TV channels like Channel
[v], MTV and Star Plus.

- Crest Communications, a post-production company, is planning to enter
the business of software production. The company is floating a new
joint venture with a Bangalore-based software production company,
Vision Technologies.

- The company has a monopoly in telecine (The process of transferring
36 mm film to 70 mm) is post production in Western India.

- Crest Communications, a post-production company, is planning to enter
the business of software production. The company is floating a new
joint venture with a Bangalore-based software production company,
Vision Technologies.

- Global Telesystems Ltd has signed a memorandum of understanding with
Mumbai-based Crest Communications for a 50:50 joint venture which will
offer media network services, covering entertainment, information and
education.

- The company has set up an inhouse core team for equity tie-up with
partners having synergical business.

- The Company has proposed to make a preferential issue of equity
shares not exceeding 559000 to NRIs, OCBs, FIIs, Indian Mutual Funds
and Strategic Partners.

- Crest Communication is developing various Indian characters in gaming
applications for international digital markets.

2002

- The Board of Directors of Crest Communications Ltd at its meeting
held on January 4, 2002 has agreed for rights issue of such number of
equity shares of Rs 10 each for cash at a premium aggregating to issue
size not exceeding Rs 200 million. Enam Financial Consultants Pvt Ltd
have been appointed as Lead Managers to the issue.

2003
-The companys equity shares will be de-listed from Ahmedabad & Chennai Stock Exchanges.

-Appointment of Deutsche Bank Trust Company Americas as Depository Bank in respect of its proposed issue of Global Depository Receipt up to US$ 10 million.

-Company's equity shares have been de-listed from Madras Stock Exchange Limited, Chennai.

-Crest Communication Ltd has informed the Exchange that the company's equity shares have been delisted from The Stock Exchange, Ahmedabad w.e.f. December 08, 2003.

-BoD of the Company at its meeting held on March 5, 2004 appointed Mr. AK Madhavan as Chief Executive Officer (CEO) for India Operations w.e.f. April 1, 2004.

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