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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Dic Ent Regs | LSE:DEKE | London | Ordinary Share | COM SHS USD0.001 (REG S) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 33.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 2515X DIC Entertainment Holdings, Inc. 23 June 2008 Not for release, publication or distribution, in whole or in part, in or into Canada, Australia, Republic of Ireland, South Africa or Japan or, any other jurisdiction where to do so would be unlawful. 23 June 2008: For immediate release RE: Merger Agreement Litigation in connection with the recommended acquisition by Cookie Jar Entertainment Inc. of DIC Entertainment Holdings, Inc. (AIM: DEKE) (the "Merger") Following DIC Entertainment Holdings, Inc.'s ("DIC" or the "Company") announcement that it has signed a merger agreement ("Merger Agreement") with Cookie Jar Entertainment Inc. ("Cookie Jar") on 20 June 2008, the Cuyahoga County, Ohio Court of Common Pleas in Cleveland, Ohio issued an ex parte temporary restraining order injunction ("TRO") on behalf of American Greetings Corporation ("American Greetings") blocking the proposed merger with Cookie Jar through 4 July 2008. The TRO was issued on the basis of American Greetings' assertions that the terms of the Merger Agreement could violate American Greetings' rights as the owner of Strawberry Shortcake and that the Merger could cause irreparable damage to the Strawberry Shortcake brand. DIC was not given sufficient advance notice by American Greetings to be able to appear in Court to oppose the issuance of the TRO. DIC and its Board remain fully committed to pursuing the Merger with Cookie Jar. The Board, having sought the advice of its advisors, including its legal counsels, believes that American Greetings' claims are without merit and strongly refutes the basis on which the TRO was granted. DIC fully intends to pursue all appropriate legal options available to it to overturn the TRO, prevent the issuance of any further injunctions and pursue the terms of the Merger. Strawberry Shortcake property would be a key element in the combined company's rights portfolio, and DIC is confident that DIC and Cookie Jar together will be able to further enhance and grow the Strawberry Shortcake brand. The Company shall provide a further update at the appropriate time. Enquiries: Nomad and Broker Landsbanki Securities (UK) Limited John Craven/Claes Spang Tel: +44 (0) 20 7426 9000 DIC Entertainment Simon Forrest +44 (0)7885 317746 Brunswick +44 (0)207 404 5959 Craig Breheny / Ash Spiegelberg Landsbanki Securities (UK) Limited, which is authorized and regulated in the UK by the Financial Services Authority, is acting exclusively for DIC and for no-one else in connection with the Merger and will not be responsible to anyone other than DIC for providing protections afforded to clients of Landsbanki Securities (UK) Limited. J.P. Morgan Securities Inc. (as assignee of Bear, Stearns & Co. Inc.) is not regulated in the United Kingdom by the Financial Services Authority, is acting for DIC and no one else in connection with the Merger and will not be responsible to anyone other than DIC for providing the protections afforded to clients of JPMorgan or for providing advice in relation to the Merger. Communications relating to the Merger will not be made, directly or indirectly, in or into, or by the use of the mails or any means of instrumentality (including, without limitation, telephonically or electronically) of interstate or foreign commerce of, or any facilities of a national securities exchange of Canada, Republic of Ireland, South Africa, Australia or Japan. Accordingly, except as required by applicable law, copies of this announcement are not being, and may not be, mailed or otherwise forwarded, distributed or sent in, into or from Canada, Republic of Ireland, South Africa, Australia or Japan. Persons receiving this announcement (including without limitation nominees, trustees or custodians) must not forward, distribute or send it into Canada, Republic of Ireland, South Africa, Australia or Japan. The availability of the Per Share Merger Consideration to DIC stockholders who are not resident in the United Kingdom or the United States may be affected by the laws of the relevant jurisdictions. It is the responsibility of each DIC stockholder only to ensure that receiving this announcement, the impending proxy statement, and any subsequent deliberations and actions (or non-actions) thereon is lawful. DIC stockholders should seek their own professional advice in connection with the Merger. This announcement does not constitute, or form any part of, any offer for, or solicitation of any offer for, securities (or any recommendation in connection thereto). Any acceptance or other response to the Merger should be made on the basis of the information contained in the proxy statement. This document has been prepared by and is the sole responsibility of the Company and has not been approved by the UK Listing Authority or AIM. Forward-looking statements This announcement contains certain forward-looking statements, including statements regarding the Company's plans, objectives and expected performance. Such statements relate to events and depend on circumstances that will occur in the future and are subject to risks, uncertainties and assumptions. There are a number of factors which could cause actual results and developments to differ materially from those expressed or implied by such forward looking statements, including, among others litigation; the enactment of legislation or regulation that may impose costs or restrict activities; the re-negotiation of contracts or licences; fluctuations in demand and pricing in the entertainment industry; fluctuations in exchange controls; changes in government policy and taxation; industrial disputes; war and terrorism. These forward-looking statements speak only as at the date of this document. This information is provided by RNS The company news service from the London Stock Exchange END AGRDDGDLLUDGGID
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