30 September 2009
VILLAGE ROADSHOW LIMITED: LONG TERM COMMITMENT TO FILM PRODUCTION
Village Roadshow Limited (“VRL”) refers to its Appendix 4E (Preliminary Final Report) released to
the ASX on 27 August 2009. On page 10 of the Appendix 4E, VRL announced that it was in
discussions in relation to assigning to a third party its US$45 million loan to Village Roadshow
Entertainment Group (VREG). VRL advises that those discussions have now ceased.
VREG, with a 12 year track record of success, is widely respected as the industry leader in its sector
and is one of VRL’s core businesses, providing considerable value to VRL and Roadshow Films.
VREG plans to extend the film financing facility which its Village Roadshow Pictures (VRP) division
currently has in place and is considering a number of strategic initiatives, including potential new
partners. As part of the extension VREG is likely to seek additional funding, including from existing
shareholders. VREG is aiming to conclude the finance extension during the first quarter of 2010.
Funding of future films is dependent on the successful re-negotiation of the film finance facility,
currently expiring in September 2010. VRP is confident a longer term film finance facility will be
negotiated which will allow for the financing of the current line up of films in development.
VRL expects to commit in the long term its total combined investment (including its 40.9% equity
interest and US$45 million loan) in VREG in an appropriate form going forward, in order to facilitate
the VRP refinancing. The VRL Board will consider any actual funding proposal at the appropriate
VRP is due to release WHERE THE WILD THINGS ARE in December and future releases include
SHERLOCK HOLMES, SEX AND THE CITY 2 and CATS & DOGS 2. VRP is currently in production
in Australia on GUARDIANS OF GA’HOOLE for late 2010 and HAPPY FEET 2 for 2011.
0411 362 362
VILLAGE ROADSHOW LIMITED ABN 43 010 672 054
Head Office: Level 1, The Jam Factory, 500 Chapel St, South Yarra VIC 3141 PO Box 2275, Prahran, VIC 3181, Australia. Telephone +61 3 9281 1000 Facsimile +61 3 9653 1993
Registered Office: Warner Roadshow Movie World Studios, Pacific Motorway, Oxenford, QLD, 4010, Australia. Telephone +61 7 5588 6666 Facsimile +61 3 9660 1764
Melbourne: Box 1411M, GPO Melbourne, VIC, 3000, Australia. Telephone +61 3 9667 6666 Facsimile +61 3 9653 1993