Phantom Digital Effects Issues Corrigendum to EGM Notice for Preferential Issue of CCDs Aggregating Up to ₹11,570.00 Lakhs

Phantom Digital Effects Limited has issued a corrigendum to the notice of its 01st Extra Ordinary General Meeting (EGM) for FY 2026-27, filed on 08th May, 2026. The corrigendum amends the EGM notice originally dated 17th April, 2026, and dispatched to shareholders on 21st April, 2026. The EGM is scheduled to be held on Thursday, 14th May, 2026 at 12.30 P.M. through VC/OAVM at the company's registered office at 6th Floor, Tower-B, Kosmo One Tech Park Plot, 14, 3rd Main Rd, Sai Nagar, Ambattur, Chennai, Tamil Nadu 600058.

Background and Reason for Corrigendum

The corrigendum has been issued pursuant to suggestions and comments received from the National Stock Exchange of India Limited vide their letter Ref: NSE/LIST/54781 dated 04th May, 2026. In compliance with NSE Circular NSE/CML/2022/56, the company has amended the relevant disclosures under Item No. 1 of the Explanatory Statement of the EGM Notice, specifically replacing Clause (a) relating to the object of the preferential issue and Clause (m) relating to the proposed allottees.

Revised Object of the Preferential Issue

The revised Clause (a) states that the proceeds from the preferential issue of Compulsorily Convertible Debentures (CCDs) aggregating up to ₹11,570.00 Lakhs shall be utilized for the following purposes:

Funding for working capital for Phantom Digital Effects Ltd., India and its subsidiaries — Tippet Studios Inc., Berkeley, California, USA and Milk Visual Effects Ltd., London, UK

Repayment of Financial Creditors

General Corporate purpose and issue related expenses

Object-wise Fund Allocation

The company has provided a detailed fund utilization plan as part of the additional disclosures. The allocation across entities and purposes is as follows:

Particulars: ₹ in Lakhs ₹ in Lakhs Funding of Working Capital Requirements Phantom Digital Effects Ltd., India (Company) 2,370.00 Tippet Studios, Berkeley, California, USA (Subsidiary) 1,500.00 Milk Visual Effects Ltd., London, UK (Subsidiary) 3,800.00 Sub-total – Working Capital 7,670.00 Repayment of Financial Creditors 3,700.00 General Corporate and Issue Expenses 200.00 Total Utilization 11,570.00

Timeline for Utilisation and Interim Use of Funds

The company has outlined the proposed timelines for deployment of the CCD proceeds:

S. No.: Particulars Timeline 1. Funding for working capital of the Company and its subsidiaries Within 12 months 2. General Corporate Purposes Within 12 months

Pending full utilization, the issue proceeds shall be maintained exclusively in a separate bank account opened for this purpose and shall be utilized solely towards the objects of the CCD issue.

Proposed Allottee and Post-Issue Capital Structure

The corrigendum also replaces Clause (m) of the Explanatory Statement, identifying ZEE Entertainment Enterprises Limited as the proposed allottee, classified under the Public (Non-Promoter) category. There will be no allotment of equity shares on issuance of CCDs; however, upon mandatory conversion, equity share capital would be issued to the proposed allottee. Upon allotment and conversion of the maximum number of CCDs proposed to be allotted — i.e., 54,27,000 CCDs — into equity shares, ZEE Entertainment Enterprises Limited would hold a maximum of 24.95% of the total post-issue equity share capital of the company on a fully diluted basis.

All other terms and contents of the EGM Notice dated 17th April, 2026 remain unchanged. Members are requested to note the amendments before casting their votes. The corrigendum forms an integral part of the EGM Notice and is available on the NSE website as well as on the company's website at https://phantomfx.com/investor/shareholder-meeting.php . The corrigendum has been signed by Bejoy Arputharaj Sam Manohar, Managing Director (DIN: 03459098), dated 08th May, 2026, from Chennai.

Phantom Digital Effects , a prominent player in the visual effects industry, has announced a significant strategic move with the completion of its acquisition of Tippett Studio. This development marks a major milestone for the company as it expands its capabilities and market presence in the competitive world of digital effects.

Acquisition Details

Phantom Digital Effects, also known as PhantomFX, has successfully finalized the acquisition of Tippett Studio, a renowned name in the visual effects and animation industry. Tippett Studio, founded by Oscar-winning visual effects supervisor Phil Tippett, has been a powerhouse in creating groundbreaking visual effects for numerous blockbuster films and television series.

Expected Impact

The strategic acquisition is anticipated to have a significant positive impact on PhantomFX's performance. According to the company's projections:

The benefits of this acquisition are expected to materialize in the second quarter of the fiscal year 2025-26.

This timeline suggests a well-planned integration process, allowing both companies to align their technologies, workflows, and creative talents.

Industry Implications

This acquisition represents a notable consolidation within the visual effects industry. By bringing Tippett Studio under its umbrella, PhantomFX is poised to:

Expand its portfolio of services

Enhance its technological capabilities

Potentially increase its market share in the global VFX and animation market

Looking Ahead

While the full extent of the acquisition's impact will become clearer in the coming years, industry observers will be keenly watching how PhantomFX leverages Tippett Studio's expertise and reputation to strengthen its position in the market.

As the integration process unfolds, stakeholders will be particularly interested in:

The retention of key talent from Tippett Studio

The combined company's ability to secure high-profile projects

Any innovations or new services that may emerge from this partnership

The visual effects industry continues to be a critical component of the entertainment sector, with increasing demand from film, television, and streaming platforms. PhantomFX's acquisition of Tippett Studio positions the company to potentially capitalize on these growing market opportunities.

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