Brief: Technicolor Reports Progress On Refinancing, TCS Spin-Off

Vantiva SA

06/06/2022 07:55

June 6 (Reuters) - TECHNICOLOR SA  TCH.PA :
    * UPDATE ON TECHNICOLOR GROUP REFINANCING
    * CONTINUES TO MAKE PROGRESS ON EXECUTION OF SPIN OFF OF ITS
TECHNICOLOR CREATIVE STUDIOS ("TCS") DIVISION TO CREATE TWO
INDEPENDENT MARKET LEADERS IN THEIR RESPECTIVE SECTORS
    * CONFIRMS ITS TARGET TO COMPLETE DISTRIBUTION OF AT LEAST
65% OF
TCS SHARES ("DISTRIBUTION") IN Q3 OF 2022
    * IS CONTINUING DISCUSSIONS WITH POTENTIAL DEBT INVESTORS
FOR BOTH
TECHNICOLOR CREATIVE STUDIOS ("TCS") AND TECHNICOLOR EX-TCS
    * IS TODAY PROVIDING SPECIFIC 2022 AND 2023 FORWARD LOOKING
ASSUMPTIONS FOR TCS, WHILE CONFIRMING ITS 2022 TECHNICOLOR GROUP
GUIDANCE
    * DEMAND FOR TCS' HIGHEST QUALITY VFX ARTISTRY AND
CUTTING-EDGE
TECHNOLOGY IS EXPECTED TO CONTINUE TO GROW SIGNIFICANTLY
THROUGHOUT 2022 AND 2023
    * SIGNIFICANT INVESTMENT IN ARTIST RECRUITMENT, RETENTION,
AND
TRAINING (INCLUDING TCS ACADEMY PROGRAMS) CONTINUES, WITH
DELIVERY OF ALL PIPELINE PROJECTS REMAINING MAIN CHALLENGE FOR
2022
    * TCS IS PLANNING TO REVIEW ITS KEY PERFORMANCE INDICATORS
(KPI),
NOTABLY INCLUDING AN ADJUSTED EBITDA AFTER LEASE, WITH GOAL OF
BECOMING MORE COMPARABLE WITH ITS PEERS AND MARKET PRACTICES

Source text for Eikon:  ID:nGNX2jRbP8 
Further company coverage:  TCH.PA 

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