Entertainment One Ltd Completion of acquisition by Hasbro, Inc. (3062Y)

TIDMETO

RNS Number : 3062Y

Entertainment One Ltd

30 December 2019

   Date:                        30 December 2019 

On behalf of: Entertainment One Ltd. (the "Company", "eOne", "Entertainment One" or the "Group")

   Embargoed until:     Immediate Release 

Entertainment One Ltd.

Completion of acquisition by Hasbro, Inc.

Further to the announcement made by Entertainment One Ltd. on 30 December 2019 regarding the Arrangement with Hasbro, Inc., the Company confirms that the Arrangement has now become effective in accordance with its terms and that, following an application by Entertainment One, the FCA is expected to cancel the listing of Common Shares on the premium segment of the Official List and the LSE is expected to cancel the trading of the Common Shares on its main market for listed securities, both with effect from 8:00 a.m. (London time) tomorrow, 31 December 2019.

Further to the announcement made by Entertainment One on 23 December 2019 regarding the delivery of notices for the conditional redemption of its GBP425,000,000 outstanding 4.625% senior secured notes due 2026 (the "Notes"), the Company confirms that the Transaction Condition referenced in such notices has been satisfied.

Defined terms used but not defined in this announcement have the meaning given to them in the Arrangement circular sent to Entertainment One Shareholders on 24 September 2019 or the Notices of Conditional Redemption sent to the holders of the Notes on 23 December 2019, as applicable.

 
 Enquiries: 
 Entertainment One 
  Ltd.                Patrick Yau               [phone] 
                      Rebecca Sanders-Hewett 
 Alma PR               Susie Hudson             [phone] 
 

Notes to Editors:

Entertainment One Ltd. (LSE: ETO) is a global independent studio that specialises in the development, acquisition, production, financing, distribution and sales of entertainment content. The Company's diversified expertise spans across film, television and music production and sales; family programming, merchandising and licensing; digital content; and live entertainment. Through its global reach and expansive scale, powered by deep local market knowledge, the Company delivers the best content to the world.

The Company's robust network includes international feature film distribution company Sierra/Affinity; Amblin Partners with DreamWorks Studios, Participant Media, and Reliance Entertainment; Makeready with Brad Weston; unscripted television production companies Whizz Kid Entertainment, Renegade 83, Daisybeck and Blackfin; live entertainment leaders Round Room Live; world-class music labels Dualtone Music Group and Last Gang; innovative music platform Audio Network; and award-winning emerging content and technology studio Secret Location.

The Company's rights library, valued at US$2.1 billion (as at 31 March 2019), is exploited across all media formats and includes about 80,000 hours of film and television content and approximately 40,000 music tracks.

www.entertainmentone.com

IMPORTANT NOTICE

Not for release, publication or distribution in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.

Forward-Looking Statements

Certain statements in this announcement contain "forward-looking statements" with respect to Entertainment One within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be accompanied by such words as "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "potential," "project," "target," "will" and other words and terms of similar meaning. Among other things, these forward-looking statements include expectations concerning the Arrangement and the expected timetable for the cancellation of the listing and trading of the Common Shares. Entertainment One's actual actions or results may differ materially from those expected or anticipated in the forward-looking statements due to both known and unknown risks and uncertainties. The statements contained herein are based on Entertainment One's current beliefs and expectations and speak only as of the date of this announcement. Except as may be required by law, Entertainment One does not undertake any obligation to make any revisions to the forward-looking statements contained in this announcement or to update them to reflect events or circumstances occurring after the date of this announcement. You should not place undue reliance on forward-looking statements.

No offer or solicitation

This announcement is provided for informational purposes only and does not constitute an offer to sell, or an invitation to subscribe for, purchase or exchange, any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance, exchange or transfer of the securities referred to in this announcement in any jurisdiction in contravention of applicable law.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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December 30, 2019 09:34 ET (14:34 GMT)