EROS Eros

TIDMEROS

RNS Number : 6226N

Eros International PLC

10 September 2013

Eros International Plc (the "Company")

10(th) September, 2013

Results for the three months ended 30 June 2013

and Director Share Awards

Results for the three months ended 30 June 2013

Eros announces its unaudited condensed results for the three months ended 30 June 2013:-

   --      Revenue US$ 40.96 million (June 2012: US$ 55.40 million) 
   --      Gross Profit US$ 12.60 million (June 2012: US$ 17.08 million) 
   --      Profit before tax US$ 11.97million (June 2012: US$ 4.88million) 
   --      Net Cash from Operations US$ 31.09 million (June 2012: US$38.44 million) 

We released 12 new films in the three months ended June 30(th) , 2013, compared to 23 films in the three months ended June 30(th) , 2012, with no high budget films and seven medium budget compared to two high budget as well as medium budget films in the three months ended June 30(th) , 2012.

Director Share Awards

In connection with the Company's proposed listing on the New York Stock Exchange ("NYSE"), Jyoti Deshpande, Group CEO & Managing Director, has entered into a new employment agreement with Eros pursuant to which she is entitled to receive a 4 percent stake in the Company's ordinary share capital on or before 20 September 2013 of which an equal percentage of shares will be locked up for one, two and three years. In addition, Ms. Deshpande is entitled to receive "A ordinary shares" of Eros International Plc valued at $2,000,000 within seven days of the Company's shares being admitted to trading on the NYSE. If the agreement is terminated under certain conditions before the expiry of 3 years, Ms. Deshpande may be required to surrender all or part of the shares issued to her thereunder. A further announcement will be released confirming when the award has been made.

Please refer to the SEC website (www.sec.gov) for the Company's amended Form F-1 Registration Statementfor more details regarding the Company's proposed listing on NYSE, the Group's unaudited condensed Financial Statements for the three months ended 30 June 2013 as well as details of the employment terms for the Group CEO and Managing Director.

For further information, please contact:

Andrew Heffernan

Chief Financial Officer

Eros International Plc

Eros International Plc

Sean Hanafin

Chief Corporate & Strategy Officer

T: +44 (0)20 7258 9909

Jamie M.M. Kirkwood

Group Communications & Investor Relations

T: +44 (0)20 7258 9906

Investec Bank plc

Nominated Adviser & Joint Broker

Patrick Robb / Jeremy Ellis / Carlton Nelson

T: +44 (0) 20 7597 5000

Peel Hunt LLP

Joint broker

Richard Kauffer / Dan Harris / Andy Crossley

T: +44 (0) 20 7418 8900

About Eros International Plc

-- Eros co-produces, acquires and distributes Indian language films, in multiple formats worldwide

   --      In 2006, Eros listed its shares on the AIM Market of the London Stock Exchange 

-- In October 2010, Eros listed its Indian subsidiary Eros International Media on the BSE & NSE in India

-- Eros operates in over 50 countries, with offices throughout India, the United Kingdom, USA, UAE, Singapore, Australia, Fiji and the Isle of Man

A registration statement relating to the Company's A ordinary shares has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This document shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

Some of the information presented in this press release and in related comments by the Company's management contains forward-looking statements. In some cases, these forward-looking statements are identified by terms and phrases such as "aim," "anticipate," "believe," "feel," "contemplate," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "future, " "goal," "objective," and similar expressions and include references to assumptions and relate to the Company's future prospects, developments and business strategies. Similarly, statements that describe the Company's strategies, objectives, plans or goals and statements regarding the proposed offering and the anticipated costs of these transactions are forward-looking statements and are based on information available to the Company as of the date of this press release. Forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated by the relevant statement. Such risks and uncertainties include a variety of factors, some of which are beyond the Company's control. In particular, such risks and uncertainties include market conditions. Information concerning these and other factors that could cause results to differ materially from those contained in the forward-looking statements is contained under the caption "Risk Factors" in the Company's Registration Statement on Form F-1 filed with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to revise the forward-looking statements included in herein to reflect any future events or circumstances, except as required by law. The Company's actual results, performance or achievements could differ materially from the results expressed in, or implied by, these forward-looking statements.

This information is provided by RNS

The company news service from the London Stock Exchange

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