Intertainment AG — M&A Activity 2006

Oct 5, 2006

News Details

Ad-hoc | 5 October 2006 21:43

Intertainment AG: Intertainment and Kinowelt reach agreement on restructuring liabilities

Ad hoc announcement transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— Intertainment and Kinowelt reach agreement on restructuring liabilities Munich, October 5, 2006 – Intertainment AG and INTERTAINMENT Licensing GmbH, both in Munich, have reached an agreement with Kinowelt GmbH, Leipzig, about restructuring liabilities amounting to some 15 million euros arising from a loan taken out by INTERTAINMENT Licensing GmbH. The restructuring package replaces a repayment agreement concluded between Intertainment and Albis Finance AG, Hamburg, in May of this year. That agreement was subject to a cancellation condition if the stock purchase contract between the Kinowelt Group and major Intertainment shareholder Rüdiger Baeres was not closed by September 30, 2006. The restructuring package with Kinowelt has not included this condition. The two parties agreed that Intertainment would pay the tranches due for repayment in each case three months later than originally scheduled. Hence, the first tranche becomes due for payment on September 30, 2007. Kinowelt also has the right to serve notice on the agreement effective January 1, 2007 with a period of notice of three months. If Kinowelt asserted this right, the legal disputes associated with the liabilities between Intertainment and Hypo Vereinsbank/Albis and with Kinowelt GmbH, due to enter the proceedings, would be resumed. End of the ad-hoc Press Release Intertainment AG, Investor Relations, Frauenplatz 7, 80331 Munich, Germany; Telephone: +49 (0)89 21699-0, Fax: +49 (0)89 21699-11, Internet: www.intertainment.de, E-Mail: investor@intertainment.de (c)DGAP 05.10.2006 ————————————————————————— Language: English Issuer: Intertainment AG Frauenplatz 7 80331 München Deutschland Phone: +49 (0)89 21699- 0 Fax: +49 (0)89 21699-11 E-mail: investor@intertainment.de WWW: investor@intertainment.de ISIN: DE0006223605 WKN: 622360 Indices: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Stuttgart, München, Düsseldorf, Hamburg End of News DGAP News-Service —————————————————————————