Prime Focus arm to raise $38 million from Macquarie

The Board of Directors of Prime Focus Ltd at its meeting held on June 21, 2013, have took on record principal terms and conditions on which Prime Focus World, N.V. proposes to raise USD 38,000,000 from Macquarie (UK) Group Services Limited at an Enterprise Valuation of USD 300 million.

The Board considered and approved to provide a corporate guarantee for an amount not exceeding USD 44,650,000 in favour of Macquarie (UK) Group Services Limited to secure the obligations of Prime Focus World Limited, Mauritius, a wholly owned subsidiary of Prime Focus limited, as part of raising of financial assistance from Macquarie (UK) Group Services Limited by Prime Focus World, N.V.

PFW has brought its expertise to many wide release Hollywood films, including most recently Baz Lurhmann's The Great Gatsby and Paramount's World War Z, and upcoming releases such as Sony Pictures' White House Down. Previously released films that the company contributed to include Men in Black 3, Star Wars: Episode One – The Phantom Menace, Dredd 3D, Total Recall, Tim Burton's Frankenweenie, Harry Potter and the Deathly Hallows: Part 2, Narnia: The Voyage of the Dawn Treader, Resident Evil: Retribution, Green Lantern, Immortals, Wrath of the Titans, Mirror Mirror, Transformers: Dark of the Moon and Avatar.

Shares of Prime Focus Ltd was last trading in BSE at Rs.38.75, down by Rs.0.75 or 1.90%. The stock hit an intraday high of Rs.41.80 and low of Rs.38.10.

The total traded quantity was 5.14 lakhs compared to 2 week average of 1.35 lakhs.

Source : Equity Bulls

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