Mukta Arts clarifies on news item

With reference to the news article appeared in Hindustan Times as on August 10, 2015 captioned ‘Foxconn likely to pick up stake in Mukta Arts’, Mukta Arts has clarified that Whistling Woods International, a subsidiary of Mukta Arts has signed an agreement with Foxconn Technology Group on Saturday in presence of the Hon’ble Chief Minister of Maharashtra for setting up a Media Lab at Whistling Woods International wherein Foxconn Technology Group will supply the equipment to Whistling Woods Institute at Goregaon. The Agreement also confirms that Foxconn and Whistling Woods International Shall be working together to create high quality content hub at Whistling Woods in Film City, Mumbai. It was further discussed by both parties that content may be produced jointly by Mukta Arts and Foxconn by using the talent coming out of Whistling Woods Institute. However, the talks are at preliminary stage and no details for the same are finalized so far. The above information is a part of company’s filings submitted to BSE.

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