ErosSTX Files 20-F with Legacy STX Historical Financials and 6-K Clarifying Guidance; Update on Quarterly Earnings Reports
October 30 2020 - 4:54PM
Business Wire
Eros STX Global Corporation (NYSE: ESGC) (“ErosSTX”), a global
entertainment company, is providing an update on three topics of
interest for shareholders and investors.
Firstly, the company filed today with the SEC a transition 20-F
report containing a qualitative discussion of legacy STX
Entertainment (STX) as well as legacy STX historical financial
statements in US GAAP.
Secondly, the company filed today with the SEC a form 6-K
clarifying the company’s financial guidance issued on July 30, 2020
following the completion of the merger.
Finally, the company is modifying its financial report format.
The company will report full financial results every six months
(interims and full-year), and for the first and third fiscal
quarters will issue a trading update on key financial and
operational metrics. The company is not obligated to report
quarterly financial results because it qualifies as a foreign
private issuer under the Securities Act of 1933. The company
believes this modification to its reporting format is more
consistent with its long-term approach to managing the company,
while still providing shareholders with timely information about
the company’s performance.
Below is a list of the company’s fiscal 2021 financial reports
and the expected reporting time frame:
- FY21 Interim Results (6-months ending September 30,
2020): January 2021
- FY21 Third Quarter Trading Update (3-months ending
December 31, 2020): March 2021
- FY21 Preliminary Results (12-months ending March 30,
2021): June 2021
The company will not issue a trading update for the first
quarter of fiscal 2021 given where we are in the calendar and given
the priority is to complete the required regulatory and financial
filings associated with the merger.
Eros STX Global Corporation:
Eros STX Global Corporation, (“ErosSTX” or “The Company”) (NYSE:
ESGC) is a global entertainment company that acquires, co-produces
and distributes films, digital content & music across multiple
formats such as theatrical, television and OTT digital media
streaming to consumers around the world. Eros International Plc
changed its name to Eros STX Global Corporation pursuant to the
July 2020 merger with STX Entertainment, merging two international
media and entertainment groups. The combination of one of the
largest Indian OTT players and premier studio with one of
Hollywood’s fastest-growing independent media companies has created
an entertainment powerhouse with a presence in over 150 countries.
ErosSTX delivers star-driven premium feature film and episodic
content across a multitude of platforms at the intersection of the
world's most dynamic and fastest-growing global markets, including
US, India, Middle East, Asia and China. The Company also owns the
rapidly growing OTT platform Eros Now which has rights to over
12,000 films across Hindi and regional languages and had 205.8
million registered users and 33.8 million paying subscribers as of
June 30th, 2020. For further information, please visit
ErosSTX.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20201030005712/en/
Investor: Drew Borst EVP, Investor Relations &
Business Development ErosSTX Global Corporation
drew@erosstx.com
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