Eros International Rebuts Market Speculation
March 09 2017 - 8:53AM
Business Wire
Eros International Plc (NYSE: EROS) (“Eros” or “The Company”), a
leading global company in the Indian film entertainment industry,
today issued the following corporate update:
“Eros International recently decided to postpone an
opportunistic USD international bond offering given the recent
change in credit market conditions. The Company appreciates the
relationships developed with credit investors over the course of
the marketing process and remains in active dialogue to be able to
return to the market when conditions improve. Meanwhile, since the
contemplated offering was purely to refinance existing debt, the
Company does not believe that this has any effect on its liquidity
position or its operations.”
“Yesterday, a short-selling website republished certain
allegations made in a lawsuit from an anonymous person about
purported events that occurred several years before Eros
International Plc went public on the NYSE. The lawsuit and all of
its allegations are completely baseless and without merit, and the
court is currently considering its dismissal. For over a year,
short-sellers have spread false claims about the Company to
manipulate its stock, and these false claims have been repeated in
meritless lawsuits. Eros will continue to vigorously defend itself
and its investors against such abusive practices.”
About Eros International, Plc
Eros International Plc (NYSE: EROS) is a leading global company
in the Indian film entertainment industry that acquires,
co-produces and distributes Indian films across all available
formats such as cinema, television and digital new media. Eros
International Plc was the first Indian media company to list on the
New York Stock Exchange. Eros International has experience of over
three decades in establishing a global platform for Indian cinema.
The Company has a competitive advantage through its extensive and
growing movie library comprising of over 3,000 films, which include
Hindi, Tamil, and other regional language films for home
entertainment distribution. Eros International has built a dynamic
business model by combining the release of new films every year
with the exploitation of its film library. The company also owns
the rapidly growing OTT platform Eros Now. For further information
please visit: www.erosplc.com
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version on businesswire.com: http://www.businesswire.com/news/home/20170309005710/en/
Eros International PlcMark Carbeck, +44 (0)20 7258 9909Chief
Corporate & Strategy
Officermark.carbeck@erosintl.comorMedia:Sloane & CompanyWhit
Clay, 212-446-1875wclay@sloanepr.com
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