EVS Broadcast Equipment sells its stake in dcin...

Publication on July 21, 2014
Regulated information
EVS Broadcast Equipment SA: Euronext Brussels (EVS.BR), Bloomberg (EVS BB), Reuters (EVSB.BR)

EVS Broadcast Equipment SA, the leading provider of live video production systems, today announced that it has reached an agreement to sell its 41.3% stake in dcinex to Ymagis SA (Euronext Paris: MAGIS). EVS will now fully focus on its four core market strategy in the broadcast sector.

Pursuant to an agreement recently signed, Ymagis will acquire upon closing all shares and warrants ("droits de souscription") issued by dcinex. The signature of final documentation and the execution of the transaction (by contribution in kind) should take place in the coming weeks, subject to usual precedent conditions (including the approval by the General Meeting of Ymagis shareholders and the agreement of all the financing banks of dcinex).The transaction also includes other customary clauses.

Under the agreement, EVS will receive at the closing:

• EUR 2.1 million in cash
• 288,851 new Ymagis shares
• EUR 6.4 million in Ymagis bonds, which have a maximum maturity of 5 years. These bonds are associated with warrants.

In total, the approximate aggregate value of the different components (at last closing Ymagis share price of EUR 7.90) represents around EUR 10.8 million for EVS. On March 31, 2014 dcinex was valued at EUR 7.9 million on the EVS balance sheet.

In addition, dcinex will reimburse the currently existing shareholders' loans. Today, the loan granted by EVS (including interests) amounts to EUR 1.5 million.

Joop Janssen, CEO of EVS, said: "dcinex was created within EVS 15 years ago. In 2004, it was decided to spin it out. With the support of EVS, dcinex has developed itself to become a leading provider of digital cinema services in Europe. In the bigger entity that will result from this transaction, dcinex will be even stronger to continue its successful evolution in that market. EVS will now fully focus on its four core market strategy (Sport, Entertainment, News and Media) in the broadcast sector."

For more information, please contact: Joop JANSSEN, Managing Director & CEO Magdalena BARON, CFO Geoffroy d'OULTREMONT, Vice President Investor Relations & Corporate Communication EVS Broadcast Equipment S.A., Liege Science Park, 16 rue du Bois Saint-Jean, B-4102 Seraing, Belgium Tel: [phone].  E-mail: [e-mail]; www.evs.com

About EVS EVS provides its customers with reliable and innovative technology to enable the production of live, enriched video programming, allowing them to work more efficiently and boost their revenue streams. Its industry-leading broadcast and media production systems are used by broadcasters, production companies, post-production facilities, film studios, content owners and archive libraries around the globe. It spans four key markets - Sports, Entertainment, News and Media. Founded in 1994, its innovative Live Slow Motion system revolutionised live broadcasting. Its reliable and integrated tapeless solutions, based around its market-leading XT server range, are now widely used to deliver live productions worldwide. Today, it continues to develop practical innovations, such as its C-Cast second-screen delivery platform, to help customers maximise the value of their media content. The company is headquartered in Belgium and has offices in Europe, the Middle East, Asia and North America. Approximately 497 EVS professionals from 20 offices are selling its branded products in over 100 countries, and provide customer support globally. EVS is a public company traded on Euronext Brussels: EVS, ISIN: BE0003820371. For more information, please visit www.evs.com.

Press release in pdf file
Ymagis press release

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: EVS Broadcast Equipment via Globenewswire

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