China Film Co. Ltd., one of the leading Chinese motion picture and television companies, today issued a press statement to the Shanghai stock exchange announcing its intent to acquire a 15% stake in Ymagis SA’s common stock.
Ymagis Group confirms the existence of advanced discussions with China Film Equipment Corporation (CFEC), a subsidiary of China Film Co. Ltd., regarding a long-term business and sales partnership. However, to date, no formal agreement has been concluded or approved by Ymagis Group’s Board of Directors.
These discussions are part of the Group’s strategy to internationalize its activities, including in Asia.
Pursuant to the regulations in force, Ymagis Group will inform the stock market as soon as an agreement has been finalized and approved. Trading of the Ymagis share has been suspended until the release of this statement. Trading will resume tomorrow, 20 January 2017, at the opening of the stock market.
ABOUT YMAGIS GROUP
Ymagis is a European leader in advanced digital technology services for the cinema industry. Founded in 2007, the Group is headquartered in Paris and has offices in 23 countries with close to 700 employees. Our core business is structured around three main units: CinemaNext (exhibitor services: sales and field services, software solutions, customer service/NOC and consulting), Eclair (content services: post-production, theatrical delivery, digital distribution, versioning and accessibility, restoration and preservation) and Ymagis (financial services). For more information, please connect to www.ymagis.com, www.cinemanext.digital or www.eclair.digital