XCast Entertainment N.V.
XCast Entertainment: Move to listed shell
XCast Entertainment N. V. / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Rotterdam, 24.12.2007. XCast Entertainment’s board of directors is abandoning all involvement in adult entertainment movies, with immediate effect. Because of this, the company is temporarily undertaking no business operations. A new strategic direction for the firm is currently under consideration, but until this has been decided upon, it remains purely a listed shell. Behind this development lie the problems suddenly developed by its American investment American Access, which has declared itself insolvent. This firm specialises in international DVD distribution and trading in adult entertainment movie rights. In the previous quarter however, the internet rendered this business model entirely obsolete. XCast Entertainment’s investment in American Access was accordingly written down to nil at the end of the business year. Whilst XCast Entertainment has deployed all the resources at its disposal to save American Access, it is in no danger of becoming insolvent itself. 'The prospect is there for us to put our company to good use in the near future as a listed shell, in accordance with the wishes of our shareholders', said Klaus Goeser of XCast Entertainment’s board, describing their next steps. Basic Claims Data Name: XCast Entertainment N.V. Sector: Listed shell ISIN: NL0000686657 WKN: AoLA9C Member Code: XCE Market Segment: Open Standard Class: Bearer Stock Face valued: without face value Fiscal Year: 01.01 – 31.12. Contact XCast Entertainment N. V. Corkstraat 46 3047 AC Rotterdam Netherlands Fon +31 10 20 85 914 Fax +31 10 20 85 999 info@xcastcorp.com www.xcastcorp.com 24.12.2007 Financial News transmitted by DGAP ----------------------------------------------------------------------
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