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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Indian Film | LSE:IFC | London | Ordinary Share | GG00B1VX1S93 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 107.50 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMIFC RNS Number : 3473Q Indian Film Company Limited (The) 02 August 2010 2 August 2010 The Indian Film Company Limited ("IFC" or the "Company") Further to the Company's announcement of 5 July 2010, the independent board of IFC confirms that a formal approach has been made by Viacom 18 Media Private Limited ('Viacom 18') regarding a possible offer for the issued share capital of the Company. The independent board is in discussions with Viacom 18. At this stage, there is no certainty as to the terms of any offer or that any such offer will be made. Shareholders are advised to take no action in relation to their shares in the Company. The Company will make a further announcement in due course. For further information, please contact: The Indian Film Company Limited Manish Thukral Tel: +91 226 629 1703 Grant Thornton Corporate Finance (Nominated Adviser) Fiona Kindness/Salmaan Khawaja Tel: +44 207 383 5100 Elara Capital Plc (Broker and Rule 3 Adviser) Pooja Agrawal Tel: +44 207 486 9733 Notes to Editors The Indian Film Company (the "Company") is a specialist film investment company which was admitted to trading on the AIM market in June 2007 and raised GBP 55 million in order to invest in a diverse portfolio of Indian films targeted at the Indian audiences across varying genre, language and budgets. The Company is part of the Network 18 Group, with the Network 18 Parties' holding 80.38% of the Company's issued share capital and is managed by Film Investment Managers (Mauritius) Ltd., which is jointly and equally owned by Viacom Inc. and BK Media Mauritius PVT. BK Media Mauritius PVT is owned by Raghav Bahl, the founder and controlling shareholder of Network 18. The Company uses the services of STUDIO 18, India's largest vertically integrated motion picture company, to distribute, exploit and market its bouquet of in-house productions, co-productions and acquisitions. Studio 18 is part of Viacom 18, a 50/50 joint venture set-up between Viacom and Network 18. DEALING DISCLOSURE REQUIREMENTS Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any paper offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure. Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3. Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4). Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129. This information is provided by RNS The company news service from the London Stock Exchange END OFDLIFSATDIFIII
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