Imagicaaworld Entertainment Limited, Board of Directors in their meeting held today have approved the preferential issue (details are below) as part of the resolution plan agreed by the lenders under the RBI Prudential Framework. On May 7 2022, the Lenders of the Imagicaaworld Entertainment Limited ("Company") had pursuant to a Bid Document dated August 30, 2021 undertook an open bidding process to solicit binding bids from eligible entities/bidder(s) for assignment/one-time settlement of the debt obligations of the Company in accordance with the requirements of the Reserve Bank of India (Prudential Framework for Resolution of Stressed Assets) Directions, 2019. As a part of this process, Malpani Parks Private Limited ("MPPL" or "Acquirer") had submitted its resolution plan(s)/offer(s) (as amended/modified from time to time) towards resolution of debt obligations to the Lenders of the Company along with change in management and control of the Company in accordance with the requirements of the RBI Prudential Framework ("Resolution Plan"). The Lenders have accorded their unanimous in-principle approval to the Resolution Plan and have declared the Resolution Plan submitted by MPPL and its nominees as the "Anchor Offer" for undertaking the "Swiss Challenge bid process" in terms of the RBI Prudential Framework. Union Bank of India (acting on behalf of all the Lenders) has instructed the Company and the promoters of the Company vide its email dated May 6, 2022 to undertake all the necessary steps/ actions that may be required for the smooth implementation of the Resolution Plan and to extend requisite support to MPPL to ensure that the Resolution Plan is implemented in a timely manner. The key terms of the Resolution Plan submitted by MPPL are as enclosed. It holistically addresses the resolution of all debt obligations of the company outstanding with the Lenders Considering all of the above, the Board of Directors of the Company in their meeting held today (May 11, 2022) have considered the following: 1. Preferential allotment of 27,14,19,228 equity shares at Rs. 15.29 per share including share premium amounting to Rs. 415 crores 2. Issue and allot equity shares of 4,90,51,667 equity shares at Rs. 15.29 per share including share premium amounting to Rs. 75 crores as part conversion of their loan into equity 3. Subject to completion of assignment of the debt by the lenders of the company to Aditya Birla ARC Ltd. as stated in the Resolution Plan, issue 4,80,00,000 redeemable preference shares of face value of Rs. 100 each amounting to Rs. 480 crores with twenty-year maturity and 0.01% p.a. coupon rate to the ARC as part conversion of the assigned debt Completion of the above issuances is subject to fulfilment of conditions precedent set out in the Investment Agreement and Debt Restructuring Settlement Agreement, which include, the receipt of approvals from shareholders of the Company. In the aforesaid context, we further inform that, the implementation of the Resolution Plan and the change in management and control of the Company as envisaged in the Resolution Plan is subject to: (a) the „Swiss Challenge bid process‟ to be undertaken by Lenders of the Company in due course; and (b) the receipt of corporate and other statutory approvals as required under applicable laws; and (c) satisfactory fulfilment of conditions precedent as may be agreed between the relevant parties.The Extra-ordinary General Meeting (EGM) of the shareholders of the company is proposed for June 10, 2022 to consider and approve various resolutions. IMAP India acted as strategic and financial advisor to the Company and DSK Legal acted as legal advisor to the Company for the above-mentioned transactions. The Management believes that the current resolution plan is a very positive step towards the financial revival by addressing the unsustainable debt and will lead to a turnaround of the company. The current financial year has witnessed an excellent response from patrons which has reinforced the strong brand saliency of Imagicaa. Shares of Imagicaaworld Entertainment Limited was last trading in BSE at Rs. 15.50 as compared to the previous close of Rs. 15.70. The total number of shares traded during the day was 169057 in over 448 trades. The stock hit an intraday high of Rs. 16.44 and intraday low of 14.92. The net turnover during the day was Rs. 2607138.00.

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