25 Feb 2011 07:00
Date: 25 February 2011
On behalf of: Entertainment One Ltd ("the Group" or "the Company")
Embargoed until: 0700 hrs
THIS ANNOUNCEMENT (AND THE INFORMATION CONTAINED HEREIN) IS NOT FOR FORWARDING, RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
Entertainment One Ltd
Acquisition Opportunities and Proposed Placing
Entertainment One Ltd. (LSE:ETO) ("Entertainment One" or the "Company") announces that it is actively considering a range of small, earnings enhancing acquisition opportunities. Whilst there can be no certainty that these acquisitions will proceed to completion, the Company is proposing to issue up to 8 million new shares at a price of no less than 145 pence per share pursuant to a placing to certain institutional investors. The proceeds of the placing will be used to help fund those acquisitions and for other strategic initiatives. It is anticipated that the consideration for any acquisition would be a mixture of cash and shares. To ensure maximum shareholder value the company reserves the right to fund the cash element of the acquisitions from its available bank facilities.
For further information, please contact:
Redleaf Communications
Emma Kane / Rebecca Sanders-Hewett
Tel: +44 (0)20 7566 6700
Email: eone@redleafpr.com
Entertainment One
Giles Willits (CFO)
Tel: +44 (0)20 7907 3783
Email: gwillits@entonegroup.com
Singer Capital Markets Limited Cenkos Securities PLC
(Joint Broker) (Joint Broker)
James Maxwell / Nick Donovan Stephen Keys / Adrian Hargrave
Tel: +44 (0)20 3205 7500 Tel: +44 (0)20 7397 8926
Notes to Editors:
Entertainment One Ltd. (LSE:ETO) is a leading international entertainment company that specializes in the acquisition, production and distribution of film and television content. The company's comprehensive network extends around the globe including Canada, the U.S., the UK, Ireland, Benelux, France, Germany, Scandinavia, Australia, New Zealand and South Africa. Through established Entertainment and Distribution divisions, the company provides extensive expertise in film distribution, television and music production, kids programming and merchandising and licensing. Its current rights library is exploited across all media formats and includes more than 20,000 film and television titles, 2,400 hours of television programming and 45,000 music tracks.
This announcement has been issued by and is the sole responsibility of the Company.
The distribution of this announcement into jurisdictions other than the UK may be restricted by law. Persons into whose possession this announcement comes should inform themselves of and observe any such restrictions.
This announcement is for information purposes only and is not intended to and does not constitute or form any part of any offer or invitation to subscribe for, purchase or otherwise acquire any securities.
Neither the content of the Company's website (or any other website) nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.