Eros International PLC Issue of Equity (8801K)

TIDMEROS

RNS Number : 8801K

Eros International PLC

02 August 2013

2(nd) August 2013

Eros International plc ("The Company")

Issue of Equity

The Company announces that application has been made for 1,431,000 ordinary shares of 10p each in the Company ("Ordinary Shares") to be admitted to trading on the AIM market of the London Stock Exchange ("Admission"). The new Ordinary Shares are being issued as share awards to certain Directors and employees.

Of the 1,431,000 Ordinary Shares being issued, 825,000 Ordinary Shares are being issued to the following Directors:

 
     Name                    Position                         Number of               Resultant            % of issued 
                                                        Ordinary Shares             interest in          share capital 
                                                                awarded         Ordinary Shares              following 
                                                                                           held              Admission 
----------------------  -----------------------  ----------------------  ----------------------  --------------------- 
                             Group CEO and 
     Jyoti Deshpande          Managing Director                 250,000               1,081,005                   0.86 
----------------------  -----------------------  ----------------------  ----------------------  --------------------- 
                             Non-Executive 
     Naresh Chandra           Director                           25,000                  72,170                   0.06 
----------------------  -----------------------  ----------------------  ----------------------  --------------------- 
                             Non-Executive 
     Dilip Thakkar            Director                           25,000                  72,170                   0.06 
----------------------  -----------------------  ----------------------  ----------------------  --------------------- 
                             Non-Executive 
     Michael Kirkwood         Director                           25,000                  45,000                   0.04 
----------------------  -----------------------  ----------------------  ----------------------  --------------------- 
 

In addition, 250,000 Ordinary Shares are being awarded to each of Kishore Lulla, Executive Chairman, and Sunil Lulla, Executive Director. Kishore and Sunil Lulla are potential beneficiaries of discretionary trusts and subsequent to this award, will hold, in aggregate, 77,559,503 Ordinary Shares in the Company, representing 61.7% of the issued share capital of the Company.

The new Ordinary Shares will rank pari passu with the existing Ordinary Shares in issue and Admission is expected to become effective on 8(th) August 2013.

Following Admission, the Company will have 125,748,367 Ordinary Shares in issue.

For further information, please contact:

 
     Eros International Plc                    Eros International Plc 
      Sean Hanafin                              Jamie M.M. Kirkwood 
      Chief Corporate & Strategy Officer        Group Communications & Investor 
      T: [phone]                    Relations 
                                                T: [phone] 
     Investec Bank plc                         Peel Hunt LLP 
      Nominated Adviser & Joint Broker          Joint broker 
      Jeremy Ellis / Patrick Robb               Richard Kauffer / Dan Harris 
      / Carlton Nelson                          / Andy Crossley 
      T: [phone]                   T: [phone] 
 

About Eros International Plc

Eros co-produces, acquires and distributes Indian language films, in multiple formats worldwide

-- 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 listed its Indian subsidiary Eros International Media Limited ("Eros International") 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

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