IFC Indian Film

 
TIDMIFC 
 
Not for release, publication or distribution in or into the United States of 
America, Canada, Australia or Japan 
 
                                Possible offer 
 
                                      for 
 
                        The Indian Film Company Limited 
 
                                      by 
 
                        Viacom 18 Media Private Limited 
 
     a 50-50 Joint Venture between ibn18 Broadcast Limited and Viacom Inc. 
 
Viacom 18 Media Private Limited("Viacom18") announced in India earlier today 
that, as part of its planned expansion in the entertainment space and 
acquisition of synergistic content, it is considering making an offer for the 
issued share capital of The Indian Film Company Limited ("the Company"). The 
offer, if made, would be made in compliance with the requirements of the City 
Code on Takeovers and Mergers. 
 
Although Viacom18 has not at this stage made any formal approach to the board 
of the Company in connection with the possible offer, it has held preliminary 
discussions with Network18 Media & Investments Limited ("Network18") and 
certain of its affiliates who, between them, own shares in the Company 
representing approximately 80.4%. Such shareholders have indicated a 
willingness to consider accepting an offer, if it is made and is on terms 
sufficiently attractive to them. 
 
Viacom18 is a 50-50 Joint Venture between ibn18 Broadcast Limited ("IBN18") and 
Viacom Inc and both these shareholders have indicated their willingness to 
provide the necessary funding to Viacom18 for any such offer. IBN18 is a 
subsidiary of Network18, listed on the National Stock Exchange and Bombay Stock 
Exchange of India. 
 
At this stage, there is no certainty as to the terms of any offer, that such 
terms will ultimately be acceptable to Network18 and its affiliates, or that 
any such offer will be made. A further announcement will be made in due course. 
 
Further information: 
 
Tony Rawlinson 
 
Cairn Financial Advisers LLP 
 
T: +44 (0)20 7148 7901 
 
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. 
 
 
 
 
END 
 

Indian Film (LSE:IFC)
Historical Stock Chart
From May 2024 to Jun 2024

Indian Film (LSE:IFC)
Historical Stock Chart
From Jun 2023 to Jun 2024