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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Eros | LSE:EROS | London | Ordinary Share | GB00B13JS954 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 235.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMEROS
RNS Number : 0125X
Eros International PLC
04 February 2013
EROS INTERNATIONAL PLC ("Eros" or the "Company")
PROMOTER SALE TO BRING IN THE CAPITAL GROUP COMPANIES
AS A KEY INVESTOR
Eros announces that Beech Investments Limited ("Beech"), ultimately owned by discretionary family trusts of which Kishore Lulla, Sunil Lulla and Vijay Ahuja, directors of the Company, are amongst the potential beneficiaries, sold 5,485,000 ordinary shares in the Company at a price of 230p per share ("Sale Shares") on 1 February 2013. Following this sale Beech will retain an interest in 76,165,657 ordinary shares, representing 61.3% of the issued share capital of the Company.
The purchaser is The Capital Group Companies ("Capital"), one of the world's largest investment management organisations with c.US$ 1 trillion of assets under management. Capital now holds 4.4% of the Company.
Jyoti Deshpande, Group CEO & MD of Eros International plc, said, "We are delighted to welcome Capital as a significant shareholder of Eros, joining our other long-term institutional investors. This strategic investment increases the free float of the Company in the near term and demonstrates our shared longer-term vision for value creation in the Company".
For further information, please contact:
Eros International Plc
Andrew Heffernan
Chief Financial Officer
T: +44 (0) 20 7258 9892
Sean Hanafin
Chief Corporate & Strategy Officer
T: +44 (0)20 7258 9909
Jamie M.M. Kirkwood
Group Communications & Investor Relations
T: +44 (0)20 7258 9906
Investec Bank plc
Nominated Adviser & Joint Broker
Jeremy Ellis / Patrick Robb / Carlton Nelson
T: +44 (0) 20 7597 5000
Peel Hunt LLP
Joint broker
Richard Kauffer / Daniel Harris
T: +44 (0) 20 7418 8900
About Eros International Plc
-- Eros co-produces, acquires and distributes Indian language films, in multiple formats worldwide
-- In 2006, Eros listed its shares on the AIM Market of the London Stock Exchange
-- In October 2010, Eros International listed its Indian subsidiary Eros International Media on the BSE & NSE in India
-- Eros operates in over 50 countries, with offices throughout India, the United Kingdom, USA, UAE, Singapore, Australia, Fiji and the Isle of Man
A registration statement relating to Eros' A Ordinary Shares has been filed with the United States Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Some of the information presented in this press release and in related comments by Eros' management contains forward-looking statements. In some cases, these forward-looking statements are identified by terms and phrases such as "aim," "anticipate," "believe," "feel," "contemplate," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "future," "goal," "objective," and similar expressions and include references to assumptions and relate to Eros' future prospects, developments and business strategies. Similarly, statements that describe Eros' strategies, objectives, plans or goals and statements regarding the proposed offering and the anticipated costs of these transactions are forward-looking statements and are based on information available to Eros as of the date of this press release. Forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated by the relevant statement. Such risks and uncertainties include a variety of factors, some of which are beyond Eros' control, including market conditions. Information concerning these and other factors that could cause results to differ materially from those contained in the forward-looking statements is contained under the caption "Risk Factors" in Eros' Registration Statement on Form F-1 filed with the U.S. Securities and Exchange Commission. Eros undertakes no obligation to revise the forward-looking statements included in herein to reflect any future events or circumstances, except as required by law. Eros' actual results, performance or achievements could differ materially from the results expressed in, or implied by, these forward-looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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