EUROPACORP (EPA:ECP) - EuropaCorp obtains the extension of its safeguard plan to prepare the restart of productions following end of COVID-19
Transparency directive : regulatory news
16/03/2021 20:11
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Press release
EuropaCorp obtains the extension of its safeguard plan to prepare the restart
of productions following end of COVID-19
Saint-Denis, 16 March 2021 - As announced by the press release of 30 December
2020, following the COVID- 19 epidemic and its impact on production, and in
accordance with the ordinance n° 2020-596 of 20 May 2020, judicial
representatives (" commissaires à l'exécution du plan de sauvegarde ")
presented on 14 December 2020 a judicial request to the Commercial Court of
Bobigny pursuant to "COVID-19" exceptional measures in order to extend the
duration of the safeguard plan by an additional two years.
By ruling on the 16th of March 2021, the Commercial Court of Bobigny has
approved the request to extend the duration of the safeguard plan of EuropaCorp
SA. It allows the company to prepare the restart of productions following end
of COVID-19.
Total duration of the Safeguard Plan is now 9 years from 24 July 2020,
involving a new repayment schedule. Other terms and conditions of the Plan
which are not in contradiction with the foregoing would remain unmodified.
As a reminder, at this stage the Group is not under any short-term cash flow
pressure and currently has several projects ready to begin production but the
evolving health situation makes it difficult to organize production, especially
for English-language films with international dimension.
Then, several projects of films with a start of production planned during
autumn 2020 have been delayed to 2nd semester 2021, shifting the forecast in
the business plan approved by the Safeguard Plan in July 2020.
ABOUT EUROPACORP
Founded in 1999, EuropaCorp has grown to become the leading film and series
production studio in Europe.
The Group's international activities cover the entire film value chain with
expertise in production, theatrical distribution, international sales, TV,
video & VOD, and music publishing. EuropaCorp is able to ensure creativity and
quality throughout the lifecycle of its films and television projects. The
Group has produced or co-produced more than 120 films and has distributed more
than 160 of them in French cinemas. Since 1999, it has produced 10 of the 20
biggest French hits internationally and 22 films among the 70 French
productions with the most international admissions (source: Le film français -
May 17, 2019). The Group has also been active since 2010 in the production of
TV series and single titles for platforms worldwide.
EuropaCorp was created by the director, screenwriter and producer Luc Besson.
More information on www.europacorp.com
Contacts
Groupe EuropaCorp
Lisa Reynaud / Investor Relations / investors@europacorp.com
Régis Lefèbvre / Communication / rlefebvre@europacorp.com
Tel: 01 55 99 50 00
NewCap
Pierre Laurent / NewCap
plaurent@newcap.fr / Tel: 01 44 71 94 94
EuropaCorp is listed on the C Compartment of Euronext Paris
ISIN Code: FR0010490920 - MNEMO Code: ECP