FFI Holdings PLC Letter of Intent Signed (6383R)
25 September 2017 - 4:01PM
UK Regulatory
TIDMFFI
RNS Number : 6383R
FFI Holdings PLC
25 September 2017
Press Release
FFI HOLDINGS PLC SUBSIDIARY SIGNS BINDING LOI TO ACQUIRE LEADING
EDITING AND POST PRODUCTION COMPANY
FFI Holdings PLC ("FFI") the world leader in the provision of
completion contracts to the entertainment industry for films,
television, mini-series and streaming product, announces today that
it has signed a binding LOI to acquire a full service digital post
production and editorial facility servicing numerous theatrical and
television productions. The acquisition will greatly enhance FFI's
growing ancillary services business.
The company has a significant presence in North America and is
at the forefront of post-production services and technology with
strong relationships in television and independent projects.
The managers of the company will continue to oversee the
operations of the company going forward. The Company anticipates
closing the transaction during its fiscal third quarter 2018
(calendar year end 2017).
Steven Ransohoff, CEO of FFI commented, "Once completed, this
acquisition will allow us to expand our ancillary services and will
offer great synergies with our Pivotal Post acquisition earlier
this year. We look forward to announcing additional deals in the
near future."
About FFI Holdings PLC
FFI Holdings PLC (AIM: FFI) is the holding company of Film
Finances Inc. (FFI), the world's leading provider of completion
contracts to the entertainment industry, which offer assurance to
the financiers of film, TV, mini-series and online media content
that productions will be completed on time and on budget. These
contracts serve to offload risks to production budgets and
timelines for financiers, as well as for FFI through long-standing
insurance relationships.
Since its founding in the 1950s, FFI has issued contracts on
approximately 1,700 productions with gross budgets in excess of
US$17 billion. These include many of the film industry's best
known-titles, ranging from the first Bond movie (Dr. No, 1962) to
The Hunger Games (2012) and Oscar winning films such as 12 Years a
Slave (2013) and La-La Land (2016).
Over successive decades FFI has grown globally to become a
trusted, iconic brand at the centre of the film industry.
Headquartered in Los Angeles, USA, it has 11 offices globally,
including in London, Stockholm, Toronto, New York, Cape Town,
Cologne and Shanghai.
ENQUIRIES:
Hawthorn Advisors (Public Relations)
Andrew Orchard
+44 (0) 20 3745 4960
Victoria Ainsworth
+44 (0) 20 3745 3815
FFI Holdings PLC
David Sasso, Head of Investor Relations
+1 310 275 7323 x292
Liberum Capital Limited (Nomad & Broker)
Steve Pearce
Joshua Hughes
Tel: +44 (0) 20 3100 2000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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