Splendid Medien AG

M&A Activity • Jan 2, 2002

News Details

Ad-hoc | 2 January 2002 13:05

splendid medien AG english

Participating interest in IEG sold Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Participating interest in IEG sold (Cologne / Los Angeles, 2 January 2002) – At the end of 2001, Splendid Medien AG sold its 49 per cent holding in the American Initial Entertainment Group, Inc. (IEG) to its majority shareholding partners Graham King and Colin Cotter. In respect of some open points within the context of this planned sale, the buyers were granted the right of rescission until 10 January 2002. It is not expected that recourse will be made to this right. Through disposal of the participating interest in IEG, Splendid Medien AG has managed to record a capital gain – tax-free – to a double-digit figure in millions (of euro) and still within the 2001 year. The proceeds from this sale will probably be used primarily to acquire a majority interest in an American production and world-wide distribution corporation. The negotiations in this connection are approaching their final conclusion. The previous cooperation between Splendid Medien AG and IEG will continue in the future. For this purpose, IEG has provided Splendid Medien AG with a first- look deal accommodation for all IEG co-produced films. Further information can be obtained by visiting http://www.splendid-medien.com or by contacting the following person: Splendid Medien AG, Elke Leim, Alsdorfer Str. 3, 50933 Cologne, Tel.: +49(0)221-95 42 32 34, Fax: +49(0)221-95 42 32 8, E-mail: elke.leim@splendid-medien.de end of ad-hoc-announcement (c)DGAP 02.01.2002 ——————————————————————————– WKN: 727950; ISIN: DE0007279507; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 021305 Jän 02