Phantom Digital Effects Limited has revised the pricing and structure of its proposed preferential issue of Compulsorily Convertible Debentures (CCDs) to Zee Entertainment Enterprises Limited following observations by the National Stock Exchange of India Limited (NSE). The company corrected the relevant date from April 14, 2026, a non-trading day, to April 13, 2026, necessitating adjustments to the issue price and the number of securities to be issued. The aggregate issue size stands at ₹115,70,36,340.

The revisions were submitted to the NSE on May 24, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company clarified that the valuation report required under SEBI ICDR Regulations was obtained prior to the dispatch of the shareholder notice but was inadvertently omitted from earlier disclosures. It also confirmed that it is not categorised as a fraudulent borrower, wilful defaulter, or fugitive economic offender by any regulatory authority.

The revised issue parameters include an issue price of ₹213.93 per CCD, comprising a face value of ₹10 and a securities premium of ₹203.93. The company will issue up to 54,08,481 CCDs. The timeline for utilisation of proceeds, previously indicated as 12 months, will be reckoned from the date of allotment of the CCDs based on the estimated implementation schedule.

The company also corrected a discrepancy regarding the total utilisation amount, aligning it precisely with the exact issue size of ₹11,570.363 lakh. Upon full conversion of the CCDs, Zee Entertainment Enterprises Limited will hold approximately 24.89% of the post-issue paid-up equity share capital on a fully diluted basis. This stake is below the 25% threshold that would trigger an open offer under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The revised shareholding pattern reflects the conversion of outstanding warrants allotted to the promoter and the allotment of CCDs to the proposed allottee. Promoter holding will decrease to 34.05% post-issue, while public shareholding will increase to 65.95%. All revised disclosures have been given retrospective effect in the notices circulated to shareholders.

Phantom Digital Effects Limited successfully concluded its 01st Extra Ordinary General Meeting (EOGM) for FY 2026-27 on Thursday, 14th May, 2026, held via Video Conference (VC)/Other Audio-Visual Means (OAVM) from 12:30 P.M. to 01:06 P.M. All four resolutions placed before the members were passed with the requisite majority. The company subsequently filed the voting results and Scrutinizer's Report with the National Stock Exchange of India Limited on 15th May, 2026, pursuant to Regulation 30 and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Revised Fund Allocation for CCD Issuance

Prior to the EOGM, the company published an addendum to the corrigendum of its EGM notice on 12th May, 2026, revising the object-wise fund allocation for the preferential issue of Compulsorily Convertible Debentures (CCDs) aggregating to ₹11,570.00 lakhs. The addendum substitutes Clause (a1) under Item No. 1 of the Explanatory Statement, reclassifying funding for subsidiaries Milk Visual Effects Ltd. and Tippett Studios Inc. under "Funding for Overseas Investments", while limiting working capital allocation to the parent company in India.

EOGM Proceedings

The meeting was held in compliance with the Companies Act, 2013 and relevant circulars issued by the Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI). Mr. Bejoy Arputharaj Sam Manohar, Chairman and Managing Director, presided over the meeting. He was joined at the meeting venue — 6th Floor, Tower B, Plot No. 14, 3rd Main Road, Ambattur, Chennai-600058 — by Mr. Binu Joshua Sam Manohar, Whole Time Director & Chief Financial Officer; Mr. Sivasankaran Ravindran, Whole Time Director; Mr. Rajesh Kumar Samal, Company Secretary & Compliance Officer; Mr. Swarna Prakash T.V, Deputy Chief Financial Officer; and Mr. Anantharaman S, VP-Finance. Non-Executive Independent Directors participated through VC/OAVM. Representatives of M/s. L U Krishnan & Co., Statutory Auditors, and M/s. KEK Associates LLP, Internal Auditors, were present via Video Conferencing. Mr. Susanta Kumar Dehury, Proprietor of M/s. SKD & Associates, Practicing Company Secretaries, served as the Scrutinizer.

The total number of shareholders on the record date (cut-off date: 07th May, 2026) was 4,330. Of these, 2 promoter/promoter group shareholders were present in person, while 1 promoter/promoter group and 25 public shareholders attended via video conferencing.

Special Business Transacted

The following four resolutions were placed before the members for their approval:

Voting Results

The remote e-voting facility, provided by National Securities Depository Limited (NSDL), commenced on 11th May, 2026 at 09:00 A.M. and concluded on 13th May, 2026 at 05:00 P.M. E-voting was also extended during the EOGM to members who had not cast their votes through remote e-voting. A total of 42 members cast their votes through remote e-voting and 1 member voted during the EGM. The Scrutinizer's Report, dated 15th May, 2026, confirmed all resolutions were passed with requisite majority, with no invalid votes recorded.

The detailed agenda-wise voting results are as follows:

Resolution 1 & 2 — CCD Issuance (Special) and Share Capital Increase (Ordinary)

Resolution 3 & 4 — Appointment of Independent Directors (Special)

Scrutinizer's Consolidated Report Summary

The Scrutinizer, Susanta Kumar Dehury (FCS: 7408, CP: 27050) of M/s. SKD & Associates, submitted the consolidated report on 15th May, 2026 from Chennai. The report confirmed the following vote tallies across all resolutions:

All resolutions are deemed to have been passed on 14th May, 2026, the date of the EOGM. The voting results along with the Scrutinizer's Report have been uploaded on the company's website at https://www.phantomfx.com/investor/shareholder-meeting.php and on the NSDL website at www.evoting.nsdl.com . The document is signed by Bejoy Arputharaj Sam Manohar, Managing Director (DIN: 03459098).