Norfolk Resources Acquires 73.72% Stake in IDream Film

Nature of the Disclosure

This is a regulatory disclosure filed by Norfolk Resources Private Limited under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, notifying the acquisition of equity shares in IDream Film Infrastructure Company Limited.

Key Quantitative Figures

Pre-Acquisition Holding (Acquirer + PACs)

• Shares carrying voting rights: NIL (0% of voting capital)
• Shares under encumbrance: NIL
• Voting rights otherwise than by equity shares: NIL
• Warrants/convertible securities: NIL
• Total Pre-Acquisition Holding: NIL (0% of voting capital)

Post-Acquisition Holding (Acquirer + PACs)

• Acquirer (Norfolk Resources Private Limited) Holding: 2,90,92,756 shares (10.75% of voting capital)
• Persons Acting in Concert (PACs) Holding: 17,03,60,456 shares (62.97% of voting capital)
• Shares under encumbrance: NIL
• Voting rights otherwise than by equity shares: NIL
• Warrants/convertible securities: NIL
• Total Post-Acquisition Holding: 19,94,53,212 shares (73.72% of voting capital)

Target Company Capital Structure Change

• Equity Share Capital Before Acquisition: 1,50,000 shares of ₹10 each
• Equity Share Capital After Acquisition: 27,05,53,280 shares of ₹10 each
• Total Diluted Share/Voting Capital After Acquisition: 27,05,53,280 shares of ₹10 each

Parties Involved

• Acquirer: Norfolk Resources Private Limited (Promoter Group)
• Target Company: IDream Film Infrastructure Company Limited
• Stock Exchange: Bombay Stock Exchange
• Persons Acting in Concert (PACs):
• Northvale Capital Partners Private Limited (Promoter) - Acquired 41,296,435 shares
• HCMI (S) Private Limited (Promoter Group) - Acquired 28,247,208 shares
• Norfolk Technologies Private Limited (Promoter Group) - Acquired 25,684,065 shares
• Yung Kug Kim (Promoter Group) - Acquired 38,250,520 shares
• Woo Yeol Cho (Promoter Group) - Acquired 18,543,129 shares
• Jung Min An (Promoter Group) - Acquired 18,249,099 shares

Mode of Acquisition

• The acquisition was executed via Preferential Allotment.

Financial & Capital Structure Impact

• The acquisition resulted in the acquirer and PACs collectively holding a 73.72% stake in the target company.
• The equity share capital of IDream Film Infrastructure Company Limited saw a massive increase from 1.5 lakh shares to over 27 crore shares, indicating a significant capital infusion or restructuring.
• No financial consideration for the acquisition was disclosed.

#Tags: #IDreamFilmInfrastructure #NorfolkResources #SEBISASTRegulation29 #PreferentialAllotment #OwnershipDisclosure #Neutral