Response to Possible Offer
05 Juli 2010 - 5:54PM
UK Regulatory
TIDMIFC
RNS Number : 8491O
Indian Film Company Limited (The)
05 July 2010
5 July 2010
The Indian Film Company Limited
("IFC" or the "Company")
Response to Possible Offer
The independent board of IFC (comprising Mr Shyam Benegal, Mr Alok Verma, Lord
Meghnad Desai and Mr Peter Radford) note the announcement made earlier today by
Viacom 18 Media Private Limited ('Viacom 18') regarding a possible offer for the
issued share capital of the Company.
As mentioned in Viacom 18's announcement, no formal approach has been made to
the board in connection with a possible offer at this stage.
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.
In accordance with Rule 2.10 of the City Code on Takeovers and Mergers (the
'Code'). The Company announces that at the close of business on 02 July 2010,
the Company has the following relevant securities (as defined under the Code) in
issue and admitted to trading on AIM: 55,000,000, ordinary shares of no par
value. The ISIN reference number for these securities is GG00B1VX1S93.
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 (Broker)
Manu Krishnan
Tel: +44 207 486 9733
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
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