Eros International PLC Issues Clarifying Statement
07 June 2019 - 5:08AM
Business Wire
Eros International Plc (NYSE:EROS), a Global Indian
Entertainment Company, today provided further clarification
regarding the credit rating downgrade at its majority owned
subsidiary, Eros International Media Limited (“EIML”). The Company
offered the following statement:
“As previously communicated through our Indian subsidiary, EIML
was late on two loan interest payments for April and May 2019.
These interest payments total less than $2 million and are
currently in process of remittance.
We want to reiterate our total consolidated cash on balance
sheet at Eros International Plc was $134.9 million as of December
31st, 2018. In addition, EIML has recently announced a strong set
of 2019 Fiscal Year end results.
We look forward to discussing Eros International Plc’s Fiscal
Year end 2019 results with the market on July 15th, 2019.”
About Eros International
Plc
Eros International Plc (NYSE: EROS) a Global Indian
Entertainment company that acquires, co-produces and distributes
Indian films across all available formats such as cinema,
television and digital new media. Eros International Plc became 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
an extensive and growing movie library comprising of over 3,000
films, which include Hindi, Tamil, and other regional language
films for home entertainment distribution. 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: https://www.businesswire.com/news/home/20190606005781/en/
Mark CarbeckChief Corporate and Strategy OfficerEros
International Plc+44 207 258 9909mark.carbeck@erosintl.com
Media:Erica BartschSloane & Company+1 212 446
1875ebartsch@sloanepr.com
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