Board Statement and Director Shareholding


 

TIDMIFC 
 
RNS Number : 1610Z 
Indian Film Company Limited (The) 
16 September 2009 
 

For immediate release 
 
 
 
 
16 September 2009 
 
 
 
 
The Indian Film Company Limited 
 
 
("IFC" or the "Company") 
 
 
 
 
Statement post closure of Offer 
 
 
In the announcement of 7 September 2009, released by Network 18 Holdings Limited 
('Network 18 Holdings'), it stated that Network 18 Holdings and its associates 
now own in aggregate a total of 44,209,742 ordinary shares of IFC representing 
approximately 80.4 per cent. of the existing issued ordinary share capital of 
the Company. 
 
 
Following the close of the mandatory cash offer for the ordinary shares of IFC 
(the 'Offer'), and based on the current assurances received from the management 
of Network 18 Holdings as stated in past related announcements, the Board of 
IFC would like to confirm that they expect no change in the current strategy of 
the Company. 
 
 
Additionally, the Board would like to clarify that its current intention is to 
retain the Company's AIM quotation. 
 
 
The Board expects to continue to invest in a diverse portfolio of Indian films 
though co-production and acquisition of high quality content in order to 
maximise return for shareholders.  However should any aspect of the proposed 
strategy change, the Company will make an update to its shareholders and the 
market accordingly. 
 
 
 
Director Shareholding 
 
 
Raghav Bahl, a Director of IFC is a director and substantial shareholder of 
Network 18 Media and Investments Limited  and BK Media Mauritius Private Limited 
and is also a director of Network 18 Holdings which is a subsidiary of Network 
18 Media and Investments Limited. As a result of closing of the Offer, Mr Bahl 
is now interested in 44,209,742 ordinary shares of the Company, representing 
80.4 per cent of the issued share capital of IFC. 
 
 
 
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| For further information, please contact: |                             | 
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| The Indian Film Company Limited          |                             | 
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| www.theindianfilmcompany.com             |                             | 
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| Sandeep Bhargava                         | Tel: +91 22 6629 1723       | 
|                                          |                             | 
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|                                          |                             | 
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| Grant Thornton Corporate Finance         |                             | 
| (Nominated Adviser)                      |                             | 
+------------------------------------------+-----------------------------+ 
| Fiona Owen                               | Tel: +44 20 7383 5100       | 
|                                          |                             | 
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|                                          |                             | 
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| Elara Capital plc (Broker)               |                             | 
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| Raj Bhatt/Mary Phelan                    | Tel: +44 20 7486 9733       | 
|                                          |                             | 
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|                                          |                             | 
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| Oriel Securities Limited (Broker)        |                             | 
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| Natalie Fortescue/Daniel Conti           | Tel: +44 20 7710 7600       | 
|                                          |                             | 
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|                                          |                             | 
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| Pelham Public Relations                  |                             | 
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| Alex Walters/Francesca Tuckett           | Tel: +44 20 7337 1500       | 
|                                          |                             | 
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|                                          |                             | 
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This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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