Eros International plc: Conditional Board Appointment of Non-Executive Director
London, 30th March 2012:
Eros International plc ('Eros' or 'the Company'), a leading global company in the Indian film entertainment industry, has announced the conditional appointment of Gregory Coote, 69, as a Non-Executive Director, subject to the Company's proposed listing on the New York Stock Exchange ('NYSE').
Mr. Coote has spent his career working in film and television production and distribution. He has served in senior positions at Columbia Pictures, News Corporation, Village Roadshow and Dune Entertainment, L.P. Most recently, from 2007-2011, Mr. Coote was the chairman and chief executive officer of Dune Entertainment, L.P., a company that finances motion pictures for Fox Films. Mr. Coote is a member of the Academy of Motion Picture Arts and Sciences, the Academy of Television Arts and Sciences and the British Academy of Film and Television Arts, and he serves on the Advisory Boards of Alnoor Holdings of Qatar, the Bona Film Group of China and the Advisory Board to the Singapore Government's Media Development Authority. Mr.Coote also serves as the Chairman of the Board of China Lion Film Distribution, a company distributing Chinese-language films in North America, the United Kingdom, Australia and New Zealand.
Speaking on the appointment, Kishore Lulla, Chairman and Chief Executive Officer of Eros said:
"We are delighted that Greg will join the Board of Eros, subject to our US listing. Greg will bring wide-ranging expertise and significant experience to Eros and will complement and add to the existing skills of our Board."
Greg Coote commented:
"I believe that a significant portion of the future expansion in the world of filmed entertainment will be in Asia and that India will be at the centre of that growth. I am excited to participate and honored to be invited to participate in the Eros venture".
Save as set out above, there are no disclosures required to be made for the purposes of paragraph (g) to Schedule Two to the AIM Rules in relation to Greg Coote.
For further information, please contact:
Chief Corporate & Strategy Officer
+44 (0)207 258 9909
T: +44 20 7071 4300
Investec Bank Plc
Patrick Robb / Carlton Nelson
T: +44 (0) 20 7597 5000
Peel Hunt LLP
Richard Kauffer / Dan Harris / Andy Crossley
T: +44 (0) 20 7418 8900
Pelham Bell Pottinger
Nick Lambert / Victoria Geoghegan / Elizabeth Snow
T: +44 (0) 20 7861 3232
About Eros International Plc:
· Eros co-produces, acquires and distributes Indian language films, in multiple formats worldwide.
· In 2006, Eros became the first Indian media company to list on the AIM Market of the London Stock Exchange.
· In October 2010, Eros International listed its Indian subsidiary Eros International Media on the BSE & NSE in India.
· Eros distributes in over 50 countries, with offices throughout India, the United Kingdom, USA, UAE, Singapore, Australia, Fiji and the Isle of Man.
Some of the information presented in this press release and in related comments by the Company's 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 the Company's future prospects, developments and business strategies. Similarly, statements that describe the Company's 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 the Company 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 the Company's control. In particular, such risks and uncertainties include 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 the Company's Registration Statement on Form F-1 filed with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to revise the forward-looking statements included in herein to reflect any future events or circumstances, except as required by law. The Company's actual results, performance or achievements could differ materially from the results expressed in, or implied by, these forward-looking statements.
A registration statement relating to the Company's A Ordinary Shares has been filed with the United States Securities 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 the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any such state or jurisdiction.
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