ALFACAM GROUP 
By Lint, Thursday 11 April 2013
On 10 April 2013 the final negotiations under the CEA II regime have been held with the remaining parties in this investment file and the banks.
The outcome of this has been discussed at a Board of Directors' meeting this morning. The Board noted that no agreement has been found about a solution between all the parties involved in this negotiation. These parties were the candidate investors, the banks, Gigarant and the mezzanine-investors.
Hence the Board of Directors has concluded that there is no longer a solid platform for a restructuring plan under CEA II. It was decided to investigate the possibility to move on to CEA III. Under the CEA III-regime officers from the Court of Commerce will try to transfer part of or all of the activities of the Alfacam Group to candidate investors. For the legal entities of the Alfacam group, and Alfacam Group NV in particular the CEA III-scenario could mean that they very likely will end up in a state of discontinuity over time.
It will be checked with the banks in particular whether they will be able and willing to support this new scenario based on the submitted short term cash planning. If the banks are supportive of this initiative a formal request for CEA III will be submitted next week. It will then be up to the Court of Commerce in Antwerp to make a verdict about this proposal.
If the banks would not support the application for CEA III, or if the formal request supported by the banks would be rejected by the Court of Commerce, the company will be forced to file for bankruptcy.
The quotation of the share price at the Stock Exchange will remain suspended until further notice.
About Alfacam Group
***
Alfacam Group [EURONEXT Brussels: ALFA] groups de activities from Alfacam, EuroLinX and Euro1080 (EUROCAM MEDIA & FILM CENTER & HD1). Alfacam primarily delivers services to TV stations and production houses. The company has the largest HD OB fleet in Europe. More information on www.alfacam.com . Eurolinx is the sister company of Alfacam, offering wireless services to TV stations and production houses. Moreinformation on www.alfacam.com/wireless .
Eurocam Media Center is a complex of 16 studio's dedicated to television, film and event productions and a« business center ». More information on www.eurocammediacenter.be.
Contact
Sven Marinus, CEO - E sven.marinus@alfacam.com - T +32 3 460 39 30
Julien Tilkens, Communication Manager - E julien.tilkens@alfacam.com - T +32 3 460 39 30
|
distributed by
|
