Changes to Investment Manager Agreement


 

TIDMIFC 
 
RNS Number : 4670J 
Indian Film Company Limited (The) 
30 March 2010 
 

 
30 March 2010 
 
 
                        The Indian Film Company Limited 
                                (the "Company") 
 
 
                    Changes to Investment Manager Agreement 
 
 
The Indian Film Company Limited, the specialist film investment company, would 
like to announce that the Company has agreed with its Investment Manager, Film 
Investment Managers (Mauritius) Limited ("Investment Manager"), a reduction in 
the Investment Management Fee ("Fee"), chargeable under the Investment 
Management Agreement, from 2% of the opening Net Asset Value ("NAV") to 1% of 
the opening NAV.  As the Investment Manager is deemed to be a related party 
under the AIM Rules, the independent directors (which excludes Raghav Bahl), 
having consulted with the Company's Nominated Adviser, consider the Fee to be 
fair and reasonable insofar as shareholders are concerned. 
 
As the general economic conditions show signs of returning consumer confidence, 
the Company expects that the financial year ending 31 March 2011 will see higher 
levels of activity than the financial year ending 31 March 2010. It is expected 
that this will lead to new investments in various projects and an increase in 
the number of projects available for distribution. 
 
In recognition of the lower Fee in relation to the year ending 31 March 2010, 
the Investment Manager may have the opportunity to earn a Fee in excess of 2% 
for the financial years ending 31 March 2011 and 31 March 2012.  Any increase in 
the Fee will be subject to the agreement of the independent directors and may 
require consultation with the Company's Nominated Adviser. It is expected that 
the Fee will return to the level of 2% of the opening NAV for the financial year 
ending 31 March 2013. 
 
 
For further information, please contact: 
 
Enquiries: 
The Indian Film Company Limited 
Sandeep Bhargava 
Tel: +91 226 629 1723 
 
Grant Thornton Corporate Finance (Nominated Adviser) 
Fiona Kindness 
    Tel: +44 207 383 5100 
 
Elara Capital (Broker) 
Henry Burrows 
    Tel: +44 207 486 9733 
 
Pelham Bell Pottinger 
Alex Walters/Francesca Tuckett                                            Tel: 
+44 207 337 1500 
 
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. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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