HT Media Ltd — Capital/Financing Update 2020

Jul 29, 2020

Ref: HTML/CS/02/2020 29th July, 2020

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, MUMBAI - 400 001

The National Stock Exchange of India Limited Exchange Plaza, C/1, Block G, Bandra Kurla Complex, Bandra (E) MUMBAI - 400 051

Scrip Code: 532662 Trading Symbol: HTMEDIA

Dear Sir(s)/Madam,

Sub: Approval of Investment in Mosaic Media Ventures Private Limited

Ref: Our letter being ref. no. HTML/CS/02/2020 dated 28th July, 2020

This is to inform you that the Board of Directors of the Company at its meeting held on 28th July, 2020, has approved investment in 'Mosaic Media Ventures Private Limited' (details of investment as per SEBI circular no. CIR/CFD/CMD/4/2015 dated 9th September, 2015, is enclosed as Annexure-A). This is for your information and record.

Thanking you,

Yours faithfully, For HT MEDIA LIMITED

(Dinesh Mittal) Group General Counsel & Company Secretary

Encl: As Above

Disclosure of information pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015

S.	Particulars	Information
No.
a)	Name of the target entity, details inbrief such as size, turnover etc.	Target entityMosaic Media Ventures Private Limited('Mosaic')Turnover of MosaicFY18: Rs.9.1 CroreFY19: Rs.14.0 CroreFY20: Rs.14.5 Crore
b)	whethertheacquisitionwouldfallwithinrelatedpartytransaction(s)andwhetherthepromoter/ promoter group/ groupcompanies have any interest in theentitybeingacquired?Ifyes,natureofinterestanddetailsthereofand whether the same isdone at "arms length";	No
c)	Industry to which the entity beingacquired belongs	Media and publishingEventsDatabase and Custom Research
d)	Objects and effects of acquisition(includingbutnotlimitedto,disclosureofreasonsforacquisition of target entity, if itsbusiness is outside the main line ofbusiness of the listed entity)	Strategic acquisition of an emerging company todrive synergies across businesses:-News business: Acquire and scale VCCircleand TechCircle to augment Mint's tech anddeals content editorial capabilities-Event business: Use HT's reach to augmentVC Circle's events business-Scale up database and research business-Unlock cost and revenue synergies
e)	Brief details of any governmentalor regulatory approvals required forthe acquisition	Not Applicable
f)	Indicative time period forcompletion of the acquisition	On or before 30th August, 2020

g)	Nature of consideration – whethercash consideration or share swapand details of the same	Consideration shall be paid in cash
h)	Cost of acquisition or the price atwhich the shares are acquired	The Board of Directors at its meeting held on 28thJuly, 2020 accorded approval to invest upto Rs. 6Crorepostworkingcapitaladjustment,andrevenue linked milestones payment upto Rs.1Crore on deferred basis, to acquire 100% of paidup share capital of Mosaic held by NWS DigitalAsiaPTELimitedandNewsCorporation("Sellers"), subject to finalization of definitiveagreements
i)	Percentage of shareholding /control acquired and / or number ofshares acquired	100% paid-up share capital of Mosaic
j)	brief background about theentity acquired in terms ofproducts/line of businessacquired, date of incorporation,history of last 3 years turnover,country in which the acquiredentity has presence and anyother significant information (inbrief);	Mosaic was incorporated in the year 2007 andis engaged in the business of:-operating news platform (viz. VCCircleand TechCircle),-providingsubscription-basedresearchdatabases (viz. VCCEdge and SalesEdge).-Events businessFor last 3 years turnover, please refer (a)above.