DGAP-News: XCast Entertainment N. V.
16:00 13.06.07
XCast Entertainment: No takeover bid
Corporate News transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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XCast Entertainment: No takeover bid
Rotterdam, June 07. After lengthy consultation, Marcus Allen’s lawyers
have recommended not to publish a takeover bid. This was the result of the
legal Due Diligence and due to potential conflicts with the existing
American investors. Nevertheless, XCast Entertainment N.V. and Marcus
Allen have decided to increase the issued capital. 10.000.000 new shares
will be offered to the existing shareholders. The offer ratio for existing
shareholders will be 1:1. Allan has also offered to subscribe to all the
shares unsubscribed by the existing shareholders. The Price of the new
shares will be published after the terms of the capital increase are agreed
with the depository bank. Marcus Allen and the Board of XCast
Entertainment N.V. believe that Marcus Allen, as the new principle
stockholder, will have the majority of shares at General Meetings.
Because of these delays, the Board of XCast Entertainment N.V. announced
that the Annual General Meeting will take place towards the end of the
year.
About XCast Entertainment
XCast Entertainment specializes in international DVD distribution,
exploitation of VOD and other multi-media channels and trading adult
entertainment movie rights. The company acquires rights to English,
continental European and American productions for the American and
International markets and makes this market accessible to the owners of
movie rights. XCast Entertainment owns a wide range of genres for these
markets and has also signed several worldwide distribution contracts.
The rights and licenses of XCast Entertainment include DVD sales, market
specific covers, promotion and logistic support, cable and satellite, hotel
Pay-per-View, Video on Demand via Internet, niche Internet offers, videos
and images for mobile handsets as well as extensive rights for future
digital media.
X-Cast Entertainment N.V. is a holding company based in Rotterdam, The
Netherlands. The operational business is managed from Chatsworth, Los
Angeles under the brand name 'American Xcess'.
Basic Claims Data
Name: XCast Entertainment N.V.
Sector: Trader of movie rights and licenses
ISIN:
NL0000686657WKN: AoLA9C
Member Code: XCE
Market Segment: Open Standard
Class: Bearer Stock
Face valued: without face value
Capital Stock: 10.000.000 (15.11.06)
Fiscal Year: 01.01 – 31.12.
Contact
XCast Entertainment N.V.
Corkstraat 46
3047 AC Rotterdam
Netherlands
Fon +31 10 20 85 914
Fax +31 10 20 85 999
info@xcastcorp.com
www.xcastcorp.comAmerican Xcess
9537 Cozycroft Avenue
Chatsworth, CA 91311
USA
www.americanxcess.com(c)DGAP 13.06.2007
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