Legal Proceedings Report • Mar 16, 2021
Legal Proceedings Report
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Saint-Denis, 16 March 2021 – As announced by the press release of 30 December 2020, following the COVID-19 epidemic and its impact on production, and in accordance with the ordinance n° 2020-596 of 20 May 2020, judicial representatives (« commissaires à l'exécution du plan de sauvegarde ») presented on 14 December 2020 a judicial request to the Commercial Court of Bobigny pursuant to "COVID-19" exceptional measures in order to extend the duration of the safeguard plan by an additional two years.
By ruling on the 16th of March 2021, the Commercial Court of Bobigny has approved the request to extend the duration of the safeguard plan of EuropaCorp SA. It allows the company to prepare the restart of productions following end of COVID-19.
Total duration of the Safeguard Plan is now 9 years from 24 July 2020, involving a new repayment schedule. Other terms and conditions of the Plan which are not in contradiction with the foregoing would remain unmodified.
As a reminder, at this stage the Group is not under any short-term cash flow pressure and currently has several projects ready to begin production but the evolving health situation makes it difficult to organize production, especially for English-language films with international dimension.
Then, several projects of films with a start of production planned during autumn 2020 have been delayed to 2nd semester 2021, shifting the forecast in the business plan approved by the Safeguard Plan in July 2020.
Founded in 1999, EuropaCorp has grown to become the leading film and series production studio in Europe. The Group's international activities cover the entire film value chain with expertise in production, theatrical distribution, international sales, TV, video & VOD, and music publishing. EuropaCorp is able to ensure creativity and quality throughout the lifecycle of its films and television projects. The Group has produced or co-produced more than 120 films and has distributed more than 160 of them in French cinemas. Since 1999, it has produced 10 of the 20 biggest French hits internationally and 22 films among the 70 French productions with the most international admissions (source: Le film français – May 17, 2019). The Group has also been active since 2010 in the production of TV series and single titles for platforms worldwide. EuropaCorp was created by the director, screenwriter and producer Luc Besson. More information on www.europacorp.com
Lisa Reynaud | Investor Relations | [email protected] Pierre Laurent | NewCap Régis Lefèbvre | Communication | [email protected] [email protected] | Tel: 01 44 71 94 94 Tel: 01 55 99 50 00
EuropaCorp is listed on the C Compartment of Euronext Paris ISIN Code: FR0010490920 – MNEMO Code: ECP
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