Press release
Update on the Distribution of 65% of
T
echnicolor Creative Studios
Paris (France), the
24
may
2022 –
Technicolor (Euronext Paris: TCH; OTCQX: TCLRY) today announced details of the distribution process (the ”
Distribution
”) of 65% of Technicolor Creative Studios (“
TCS
“).
The Company continues to move forward with the execution of its Distribution and Refinancing plan announced on February 24, 2022 and confirms its objective to implement the distribution of 65% of the shares of TCS during the third quarter of 2022. Given current market conditions and the narrow market window that the company would have to secure the refinancing of its debt ahead of the general shareholders’ meeting of June 30, 2022, the Company has opted for a more flexible sequencing of the operations in order to optimize the outcome of the ongoing refinancing process. The Group will hold a general meeting of its shareholders in connection with the Distribution during the third quarter of 2022, once the refinancing has been secured.
The general meeting of Technicolor SA shareholders called to approve the financial statements for the 2021 financial year as well as the resolutions necessary for the conduct of its ordinary operations is still scheduled for June 30, 2022, and a notice of the meeting relating thereto will be published in the Bulletin Mandatory Legal Announcements on May 25, 2022.
Indicative timetable
Investor Days for Technicolor Excluding TCS and TCS | June 14, 2022 |
###
Disclaimer: Forward-Looking Statements
This press release contains certain statements that constitute “forward-looking statements”, including without limitation statements announcing or relating to future events, trends, plans or objectives, based on certain assumptions as well as all statements that do not do not relate directly to a historical or proven fact
.
These forward-looking statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties, which could cause actual results to differ materially from the forward-looking results expressed or implied by the forward-looking statements.
.
For more information on these risks and uncertainties, you may consult the documents filed by Technicolor with the Autorité des marchés financiers.
The document
recording universe
and
l 2021
was filed with the Autorité des marchés financiers on April 5, 2022 under number
ero D-22-0237
and
an amendment
to the Universe Registration Document
and
l 202
1 was filed with the AMF on April 29, 2022 under number D-22-0237-A01.
###
About Technicolor:
www.technicolor.com
Technicolor shares are admitted to trading on the regulated market of Euronext Paris (TCH) and are negotiable in the form of American Depositary Receipts (ADR) in the United States on the OTCQX market (TCLRY).
Investor Relations
Alexandra Fichelson
[email protected]
Media
Catherine Kuttner
[email protected]
Nathalie Feld
[email protected]
Enclosed
2022-05-24 CP Update Spinoff-VF