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EROS Eros

235.50
0.00 (0.00%)
23 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Eros LSE:EROS London Ordinary Share GB00B13JS954 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 235.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 235.50 GBX

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Posted at 02/11/2022 15:11 by goonerbob
Received the following from the Trustees

If you are in any doubt as to the action you should take, you are recommended to seek your own advice immediately from your stockbroker, bank manager, solicitor, accountant or other financial adviser authorised under the Financial Services and Markets Act 2000 (if you are in the United Kingdom), or from another appropriately authorised independent financial adviser.

NOTICE OF EVENT OF DEFAULT
EROS MEDIA WORLD PLC (formerly EROS STX GLOBAL CORPORATION, formerly EROS INTERNATIONAL PLC)
(the “Issuer”)
Notice to the holders of £50,000,000 6.50 PER CENT. SECURED BONDS due 13 April 2023 (the “Bonds”) of the Issuer
(ISIN: XS1112834608; Common Code: 111283460)

THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION
We, U.S. Bank Trustees Limited, in our capacity as trustee in respect of the Bonds (the “Trustee”) refer to the RNS notice delivered by the Issuer dated 1 November 2022 (the “Issuer Notice”).

The Issuer Notice can be found here:


Event of Default: The Issuer has informed the Trustee that it has not been able to make the payment due on the Interest Payment Date on 15 October 2022 within the applicable grace period specified. The applicable grace period has now expired and this therefore constitutes an Event of Default pursuant to Condition 8(a) of the Conditions of the Bonds.
With regards to the non-payment, the Issuer Notice states that the Issuer: “hereby gives notice that, due to ongoing administrative issues flowing from its demerger with STX Entertainment, it has not yet made the coupon payment on the Bonds which was due on 17 October 2022, and payable by 31 October 2022.
[The Issuer] is committed to rectifying this delay in payment of the coupon as soon as possible and will do so shortly”
The Trustee accepts no responsibility for the contents of the Issuer Notice.

Directions and Indemnity: following the occurrence of an Event of Default, the Trustee at its discretion may, and if so requested by holders of at least one-fifth in nominal amount of the Bonds then outstanding or if so directed by an Extraordinary Resolution shall, subject in each case, to its being indemnified and/or secured and/or pre-funded to its satisfaction, give notice to the Issuer that the Bonds are, and they shall immediately become, due and payable as at such date at their nominal amount together (if applicable) with accrued interest.
2
At any time after the Bonds become due and payable, the Trustee may, at its discretion and without further notice, institute such proceedings or take such steps or actions against the Issuer and/or any Subsidiary Guarantor as it may think fit to enforce the terms of the Trust Deed, the Bonds and the Coupons, but it need not take any such proceedings, steps or actions unless (a) it shall have been so directed by an Extraordinary Resolution or so requested in writing by Bondholders holding at least one-fifth in nominal amount of the Bonds outstanding and (b) it shall have been indemnified and/or secured and/or prefunded to its satisfaction. No Bondholder or Couponholder may proceed directly against the Issuer or any Subsidiary Guarantor unless the Trustee, having become bound so to proceed, fails to do so within a reasonable time and such failure is continuing.

At the current time, the Trustee does not intend to take any steps to enforce the terms of the Trust Deed, the Bonds and the Coupons unless so directed and indemnified and/or secured and/or pre-funded to its satisfaction.

Contacts: Noteholders who have queries concerning anything mentioned in this notice may contact the Trustee along with relevant proof of their holding at:
Address: U.S. Bank Trustees Limited, Fifth Floor, 125 Old Broad Street, London, EC2N 1AR
Reference: Corporate Trust re Eros STX Global Corporation
E-mail: cdrm@usbank.com
E-Mail: chris.hobbs@usbank.com
E-mail: laurence.griffiths@usbank.com
Capitalised terms used and not otherwise defined in this notice shall have the same meaning as in the prospectus dated 25 September 2014 which was issued by the Issuer in connection with the Bonds.
Notice is given by the Trustee dated 2 November 2022
U.S. BANK TRUSTEES LIMITED
Posted at 08/5/2019 09:19 by planetgong
I saw this on yahoofinuk:

(Bloomberg) -- A Bollywood filmmaker that was spurned by credit investors several years ago is changing the terms on a planned dollar bond offering after money managers balked again, as signs of caution in global debt markets mount.

Eros International Plc is tweaking its plan after holding road shows last month, at a time when investors have been inundated with dollar bond supply and U.S.-China trade tensions are bringing more volatility to markets.

In a novel twist, the maker of films with stars such as Priyanka Chopra and Salman Khan now plans to offer notes that will be secured against its library of more than 12,000 film titles available to global viewers via its platform Eros Now, after having sought an unsecured structure last month, the company said when asked. It pulled a dollar bond offering two years ago after investors demanded higher yields.

A surge in Asian dollar note sales is testing investor appetite after the market’s best rally in years. Buyers of Indian firms’ overseas debt have also faced issuance that has reached records in 2019.

Last year, billionaire Mukesh Ambani’s Reliance Industries Ltd. acquired a 5 percent stake in Eros. The Mumbai-based company reported an unexpected quarterly profit.
Posted at 22/2/2019 06:35 by blusteradjuster
ErosNow still on a tear. They’ve reached their 16 million paid subscriber target 3 months early.



Our digital & ancillary business generated $35.6 million in revenue, a growth of 31.4% over last quarter, and represented 46.4% of our total revenue this quarter – the largest proportion ever. Eros Now achieved 15.9 million paid subscribers this quarter, which represents growth of 218% year-over-year, and registered users grew to more than 142 million, a 78% increase versus the prior year period.
Posted at 18/5/2018 10:04 by blusteradjuster
Missed this from last week. Stellar growth in paying subscribers.




ISLE OF MAN, United Kingdom--(BUSINESS WIRE)--May 9, 2018-- Eros International Plc (NYSE: EROS) (“Eros” or “the Company”), a leading global company in the Indian film entertainment industry, today announced that Eros Now, its cutting edge digital over-the-top (OTT) South Asian entertainment platform, has reached over 100 million registered users and 7.9 million paying subscribers worldwide as of March 31, 2018.

This substantial growth in paying subscribers represents a 58% increase over the last reported quarter and a 277% increase from 2.1 million paying subscribers as of the fiscal year ended March 31, 2017. The Company also today reiterated its previous guidance that its Eros Now paying subscriber base is expected to double over the next 12 months to approximately 16 million paying subscribers by fiscal year end 2019.
Posted at 27/2/2018 21:39 by blusteradjuster
Yes, the figures remain opaque.

I’ve always assumed big subscriber numbers means a higher share price.

Momentum is good.
Posted at 21/2/2018 13:57 by blusteradjuster
Reliance Industries Limited (“RIL” or “Reliance”) and Eros announced yesterday that RIL, through a subsidiary, has agreed to subscribe to a 5% equity stake in Eros at a price of $15 per share. This represents an 18% premium to the closing price on February 16, 2018. The transaction is subject to customary regulatory and other approvals.

RIL and Eros International Media Limited (“Eros India”) announced that they have agreed to partner in India to jointly produce and consolidate content from across India. The new partnership will equally invest up to $150 million to produce and acquire Indian films and digital originals across all languages.

Eros Now’s paying subscriber base increased 150% y-o-y - triple digit growth from 2 million paying subscribers as of December 31, 2016 to 5 million paying subscribers as of December 31, 2017. Registered users reached over 80 million as of December 31, 2017. Company re-affirms previous guidance of 6-8 million paying subscribers by FYE 2018 and expects to double that base by FYE 2019.
Posted at 06/10/2017 17:20 by blusteradjuster
Cinema revenues decline - don’t know what that signifies going forward.

Eros Now revenues seem to be exploding (from a low base), I presume that a very high % of incremental Eros Now revenues flow straight to the bottom line.




In the three months ended June 30, 2017, the Eros film slate was comprised of five films of which one was high budget, one was medium budget and three were low budget as compared to 14 films in the three months ended June 30, 2016, of which three were high budget, two were medium budget and nine were low budget.

In the three months ended June 30, 2017, the Company’s slate of five films comprised of one Hindi film, one Tamil film and three regional films as compared to the same period last year where its slate of 14 films comprised five Hindi films, five Tamil films and four regional films.

For the three months ended June 30, 2017, revenue decreased by 14.4% to $60.8 million, compared to $71.1 million for the three months ended June 30, 2016.

For the three months ended June 30, 2017, aggregate theatrical revenues decreased by 36.9% to $23.6 million from $37.4 million for the three months ended June 30, 2016, mainly due to a lower number of films, especially high and medium budget Hindi films.

Theatrical revenues in the three months ended June 30, 2016 comprised revenues from Ki & Ka, Housefull 3, 24, Sardar Gabbar Singh in comparison to a slate with fewer films in the three months ended June 30, 2017 with Sarkar 3, Oru Kidayin Karunai Manu and Posto.

For the three months ended June 30, 2017, aggregate revenues from television syndication decreased by 11.2% to $17.4 million from $19.6 million for the three months ended June 30, 2016, mainly due to lower new release television revenues partially offset by catalogue revenues.

For the three months ended June 30, 2017, the aggregate revenues from digital and ancillary increased by 40.4% to $19.8 million from $14.1 million for the three months ended June 30, 2016 primarily on account of contribution from Eros Now and catalogue revenues.
Posted at 06/10/2017 15:30 by spectoacc
Eros share price seems to be doing OK in US though? Last time it reported it halved :)
Posted at 19/10/2016 03:09 by foot in mouth
October 18, 2016 08:51 AM Eastern Daylight Time

ISLE OF MAN, United Kingdom--(BUSINESS WIRE)--Eros International Plc (NYSE: EROS) (“Eros”), a leading global company in the Indian film entertainment industry, today announced that Eros Now, its cutting edge digital over-the-top (OTT) platform, now has mobile billing integration capabilities with major telecom operators in UAE and Qatar.

Mobile billing integration is at the heart of Eros Now’s penetration strategy to enable consumers to experience the best of Indian entertainment, which includes Bollywood and regional content across major networks and devices, and will further enhance the platforms ability to monetize its user base. The tie-ups in the Middle East are with the leading local telecom operators including Ooredoo in Kuwait and Qatar, and Du in the UAE. Additional telecom partnerships throughout the region are currently being negotiated.

Consumption of Bollywood content, including Hindi movies, music and TV series in the Middle East has been on the rise along with it also becoming one of the leading regions in the world in terms of smart device adoption. With an increasing number of handheld device users, the trend of online content consumption has markedly increased in the region. The South Asian diaspora in both of these markets is estimated to be over 50% of the population, which represents over five million people. In addition to the South Asian diaspora, Bollywood content continues to be popular with the local Middle Eastern population in dubbed and subtitled formats – both of which are offered on Eros Now.

Rishika Lulla-Singh, CEO Eros Digital commented, “As market leaders in the film business, Eros has always strived to bring users the best of Indian entertainment, offering each the same unified experience across screens and networks. Eros Now’s philosophy is to be platform agnostic and embrace the very best in technology as we continuously enhance our content offering. Recognizing the growing demand among Middle Eastern viewers for online video content, especially Bollywood entertainment, these mobile partnerships will give consumers entertainment and easy pay access, whenever and wherever they want it.”

About Eros Now

Eros Now is Eros International Plc’s leading on-demand Bollywood entertainment network accessible anytime, anywhere, on nearly any Internet-connected screen. Eros Now offers its 49.6 million plus registered users, across 135 countries, the promise of endless entertainment hosting the largest library of films (Eros Now has rights to over 5,000 films), as well as premium television shows, music videos and audio tracks, unmatched in quantity and quality. Eros Now will soon launch compelling original drama series for its viewers. Compelling product features such as offline viewing where premium subscribers can download the content and view it when not connected to the Internet make Eros Now a unique offering with focus on user experience.

Eros Now is available on Apple and Android platforms and has integration deals with Airtel, Idea and now Reliance Jio and several other operators internationally. For further information, please visit: www.erosnow.com.

About Eros International Plc

hxxp://www.businesswire.com/news/home/20161018006033/en/Eros-International-Announces-Mobile-Billing-Integration-Major
Posted at 13/11/2015 14:46 by soul limbo
Eros’ stock woes continue as it fights allegations on revenue and releases

By Shashidhar KJ ( @lomirgenii1988 ) on November 13, 2015

Movie production house Eros International continues to face allegations of overstating its revenues and theatrical releases and was forced to issue a statement yesterday. Terming them “baseless”, the company was responding to an article published by Alpha Exposure where it said that Eros had released only 52 films in 2014 and 2015 rather than 134 films as said in its disclosures.

Eros said that its management attended a conference hosted by Wells Fargo where “where it did not disclose any new information to the market and only reinforced its business fundamentals.”

“No statement was provided concerning the Alpha Exposure article dated November 10, 2015 which made further baseless allegations about the Company’s core business, its content library and film slate,” Eros added.

Digital business market share

The Alpha Exposure story also took aim at Eros’ digital and ancillary business and said the company faked the segment’s revenues. According to the story, Eros had claimed revenues of $60 million and $48 million in 2014 and 2015 respectively. The story highlighted a KPMG report (pdf) where it said the market size of the digital film distribution was $158 million. “Eros’ reported revenue implies 42% and 38% market share of the industry’s total Cable and Satellite Rights and the industry’s total Digital and Ancillary revenue, respectively. These levels of penetration seem implausible based on the much smaller proportion of gross box office receipts represented by Eros’ reported theatrical revenues,” it further read.

Readers will note that Eros’ digital and ancillary business revenues have been falling over the last three quarters. Digital revenues stood at $21.3 million at the end of Q3 FY15, $18.7 million at the end of Q4 FY15 and $6.3 million at end of Q1 FY16.

Earlier in the month, Eros issued a clarification on the number of users on its digital platform Eros Now. Earlier in October, Eros had said that crossed 30 million registered users as of September 30. The 30 million registered users reported by ErosNow as of 30th September 2015 are a combination of web, WAP and APP users, the company said.

Stock downgrade by Wells Fargo

Earlier in October, Eros’ stock was downgraded by Wall Street Bank Wells Fargo. According to the investment bank, Eros’ continued increase in revenues from the UAE is unexplained. The company said Eros International Plc, consolidates its subsidiary financials, and cancels out all inter-company transactions between the group companies and only reports the third party revenues, costs and profitability and that analyzing subsidiary financials which in isolation can be extremely misleading, in its explanation.

Push for digital

In June, Eros canned its television network plans following investor calls to focus on their digital platform ErosNow. Eros CEO Kishore Lulla, in an analyst call, said that the company has shelved its plans for a TV network at least for a year after a group of shareholders led by UK-based investment firm Knight Assets cautioned against launching a television network and asked them to focus on their digital products.
Eros share price data is direct from the London Stock Exchange

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