CINEMEDIA AG
Berliner Synchron AG: Spin-off to strengthen business operations and equity agreed; balance sheet structure will continue to improve.
Berliner Synchron AG / Key word(s): Strategic Company Decision Berlin, 30 June 2014 – The Supervisory Board and Management Board of Berliner Synchron AG have agreed on further important measures as part of company strategy. Accordingly, it will be proposed to the shareholders at the General Meeting at the end of August shareholders to completely restructure operational activities into a 100%-owned subsidiary. This will mean all assets, liabilities and all contractual obligations being transferred to the new Berliner Synchron GmbH. Nothing will change for customers, business partners or employees. From their perspective, the company may even possibly move closer to the market without sacrificing the potential of the additional funding opportunities of a publicly listed parent company. In the current financial year, Berliner Synchron GmbH plans to expand future business operations in the segments of cinema, TV and corporate media production as well as post production. For this purpose, the current positive business performance provides a very good foundation. Furthermore, it is crucial from the perspective of the Supervisory Board and Management Board that both the new Berliner Synchron GmbH as well as Berliner Synchron AG, which will then initially only exercise holding functions, can each demonstrate strong equity positions. As a result, both the structure of the balance sheet and the creditworthiness of the group will continue to improve. Under the proposed spin-off, the realization of hidden reserves within the commercial balance sheet will accelerate the expected positive performance of Berliner Synchron AG in the 2014 financial year. Against the background of present debtor warrants, it is foreseeable that this will revive lending by the major shareholder. Here it has been possible as a result of an active response from and involvement of financing partners to negotiate advantageous agreements for the company, so as to control a hitherto latent risk in the long term in the interests of Berliner Synchron AG. In addition, at the level of the future holding, the company will become more flexible, for example, to increase its involvement in other areas of the media sector. This need not necessarily be linked directly to the synchronising sector, but can also serve the aim of improving the value and expanding the product portfolio strategically by other means. An initial step in strategic product expansion has already been taken with the acquisition of Edition M GmbH in Munich.
10 July 2014: Publication of 2013 Annual Report About Berliner Synchron AG Berliner Synchron AG is the origin of dubbing services in Germany for the professional language adaptation and subtitling of international feature films and television productions, corporate media and multimedia content, as well as barrier-free localization solutions. As one of the leaders of the German dubbing industry with more than 60 full-time employees, the company has built up an excellent world-wide reputation over its 63 years and has a track record of more than 7,000 localized projects. With a passion for language and sound as well as respect for the creative invention of the original, this well-established company has been devoted to one purpose since its founding in 1949: To feel the original. For more information: www.berliner-synchron.de Contact: Berliner Synchron AG End of Corporate News 30.06.2014 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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