TV-Loonland AG
TV-Loonland AG debt free
TV-Loonland AG / Miscellaneous Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Munich/London, 21 May 2008 – The management of TV-Loonland is very pleased to notify that following its recent corporate transactions for both the sale of its rights in the Hasbro Classics Library and the sale of its shareholding in Metrodome Group plc, the company has repaid all of its remaining bank borrowings, thus becoming debt free. Following the restructuring package agreed on at its last AGM in November 2007 the original bank debt of € 20m was reduced to € 6m, with the company’s bankers also receiving a 10% shareholding in the company in return. Shortly thereafter an initial € 1m was repaid from the proceeds of a Convertible Bond issue, leaving € 5m still payable. Said outstanding amount of € 5m has now been repaid in full by means of selling both the rights in the Hasbro Classics Library to Hasbro Inc. and of TV-Loonland’s shareholding in Metrodome. The initial excess proceeds from these transactions, approximately € 1m, is now available for use to the company, with further sums due. Simon Flamank, CEO of TV-Loonland AG: 'This now marks a new exciting chapter in the company’s history, as for the first time in seven years the company is debt free and thus we are able to concentrate on future opportunities.' 'We will now consider further the various alternative scenarios which may exist for the remaining core children’s animation business and in particular the new properties that we have been developing.' PR010-080521 About TV-Loonland TV-Loonland is a brand management company primarily in the children's and youth market focusing on high-quality content which it develops and produces in house as well as coproduces with third party producers and partners. With offices in key locations throughout Europe (Paris, Munich and London) and in the USA (Miami), TV-Loonland is ideally positioned to identify, produce and market top quality brands across all media including TV, Home Entertainment, Licensing & Merchandising as well as digital media. TV-Loonland's most recent successes include brands such as LITTLE PRINCESS, THE OWL and PETTSON AND FINDUS. Press/Investor Relations Mark Kilisek/Wendelin Probst Tel.: +49 (0) 89 20 50 8 – 0 Tel.: +49 (0) 89 20 50 8 - 199 E-mail: mkilisek@loonland.com / wprobst@loonland.com TV-Loonland Münchner Straße 16 85774 Unterfoehring/Munich Germany 21.05.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: TV-Loonland AG Münchner Straße 16 85774 Unterföhring Deutschland Phone: +49 (0)89 205 08 - 0 Fax: +49 (0)89 205 08-199 E-mail: info@loonland.com Internet: www.loonland.com ISIN: DE0005348403 WKN: 534840 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, München, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
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