Brief: Technicolor Remains Confident Of Achieving Outlook

Vantiva SA

02/09/2020 17:26

Sept 2 (Reuters) - TECHNICOLOR SA  TCH.PA :
    * CONTRIBUTION OF THE BALANCE OF THE NEW MONEY FACILITY  FOR
AN
AMOUNT OF C. €180 MILLION - UPDATE ON THE BUSINESS
    * ALL THE CONDITIONS PRECEDENT REQUIRED IN CONNECTION WITH
THE
CONTRIBUTION OF THE BALANCE OF THE EUR 420 MILLION NEW FINANCING
(THE “NEW MONEY”) HAVE BEEN GRANTED OR SATISFIED
    * ON JULY 31, 2020, THE U.S. BANKRUPTCY COURT PRESIDING OVER
TECHNICOLOR’S CHAPTER 15 PROCEEDINGS GRANTED RECOGNITION OF THE
ORDER OF THE COMMERCIAL COURT OF PARIS DATED JULY 28, 2020
APPROVING TECHNICOLOR’S ACCELERATED FINANCIAL SAFEGUARD PLAN
    * US BANKRUPTCY COURT’S ORDER GIVES FULL FORCE AND EFFECT TO
THE
FRENCH COURT’S APPROVAL ORDER AND PROHIBITS TECHNICOLOR’S
CREDITORS FROM TAKING ANY ACTION INCONSISTENT WITH THE
ACCELERATED FINANCIAL SAFEGUARD PLAN IN THE UNITED STATES
    * GROUP REMAINS CONFIDENT OF ACHIEVING OUTLOOK PRESENTED IN
ITS
PRESS RELEASE ISSUED ON JULY 30 2020, INCLUDING ACHIEVEMENT OF
COST SAVINGS IN EXCESS OF EUR 160 MILLION DURING YEAR
    * IN PRODUCTION SERVICES, RECENT DISCUSSIONS WITH THE MAJOR
US
STUDIOS CONFIRM A PICK-UP IN GENERAL ACTIVITY IN THE FILM
INDUSTRY

Source text for Eikon:  ID:nGNX7pYZHY 
Further company coverage:  TCH.PA 

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