ALFACAM GROUP 
By Lint, Wednesday 31 October 2012
As communicated in the press release published on 26 October
2012, the Commercial Court of Antwerp approved the judicial
reorganization for Alfacam Group and its associated companies
granting Alfacam Group protection until 5 February 2013, as
set out in the Continuity of Enterprises Act. The request was
made on Wednesday 17 October 2012, after the failure of the
negotiations with the potential investors, Value Enhancement
Partners.
The procedure aims to achieve collective agreement with the
creditors, including as mentioned in the article 51 WCO a
potential partly or complete takeover of the company
depending on the a restructuring plan.
In accordance with Article 20, paragraph 2 of the Continuity
of Enterprises Act, any creditor and any other person who,
with the consent of the delegated judge, can demonstrate a
legitimate interest is entitled to free access to the file
and to receive a copy of the file.
In addition to the information communicated in the press
release of 26 October 2012, Alfacam
Group has also published all the official documents provided
by the Court of Antwerp on 26
October 2012 (www.alfacamgroup.com- Financial Announcements).
Here is the consolidated debt position of Alfacam Group on
30/09/12, as communicated to the
Court :
NATURE | 31/12/2011 | 30/09/2012 |
Leasings | 25.406.628 | 15.922.576 |
Loans | 8.469.749 | 7.565.459 |
Subordinated Loans | 7.758.375 | 10.701.044 |
Roll over credits | 12.793.339 | 16.000.000 |
Cash facilities | 4.170.769 | 6.307.759 |
TOTAL Yearly Accounts | 58.598.860 | 56.496.838 |
IFRS treatment of Warrants | 3.339.620 | 2.851.828 |
TOTAL Nominal Debt | 61.938.480 | 59.348.666 |
Since 30/09/12, no material changes have been realized in
this consolidated debt position. Here is the cash position
for this period, as communicated to the Court :
okt/12 | nov/12 | dec/12 | jan/13 | |
Operational cash flow | 161.913 | 689.783 | 864.590 | 766.179 |
Total other CASH OUT (leasings) | 200.000 | 200.000 | 200.000 | 200.000 |
Total Cash flow in the period | -38.087 | 489.783 | 664.590 | 566.179 |
Cash at the beginning of the period | 117.931 | 79.844 | 569.627 | 1.234.217 |
Cash at the end of the period | 79.844 | 569.627 | 1.234.217 | 1.800.396 |
Alfacam Group is currently negotiating with several potential
investors and hopes to find a quick solution in order to
provide a definitive guarantee for the future.
Further communication regarding the WCO procedure and the
negotiations with potentials investors will follow in due
time.
***
About Alfacam Group
Alfacam Group [EURONEXT Brussels: ALFA] groups de activities from Alfacam, EuroLinX and Euro1080 (EUROCAM MEDIA & FILM CENTER & HD1). Alfacam primarily delivers services to TV stations and production houses. The company has the largest HD OB fleet in Europe. More information on www.alfacam.com . Eurolinx is the sister company of Alfacam, offering wireless services to TV stations and production houses. Moreinformation on www.alfacam.com/wireless .
Eurocam Media Center is a complex of 16 studio's dedicated to television, film and event productions and a« business center ». More information on www.eurocammediacenter.be .
Contact
Sven Marinus, CEO - E sven.marinus@alfacam.com - T +32 3 460 39 30
Julien Tilkens, Communication Manager - E julien.tilkens@alfacam.com - T +32 3 460 39 30
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