Press Speculation Regarding Film Release
13 Août 2009 - 5:32PM
UK Regulatory
TIDMUMP
RNS Number : 4216X
UMP PLC
13 August 2009
UMP Plc
13 August 2009
Press speculation regarding film release "Kaminey"
"Kaminey" releasing tomorrow in theatres worldwide
Further to the announcement made by UTV Software Communications Ltd. the parent
Company of UMP Plc (AIM: UMP) (the "Company" or "UMP") to the Stock Exchange,
Mumbai, today, regarding press speculations about UMP's film release Kaminey
(the "Film"), the Board of the Company would like to clarify that the Film will
be released as scheduled worldwide this week.
Further to the decision of the Maharashtra state government to close cinemas for
three days in Mumbai, Thane and Navi Mumbai (the "Mumbai Region") in response
to rising swine flu deaths, the Directors expect that the release of the Film in
the Mumbai Region will be delayed by 2-3 days, dependent on the decision made by
the state government authorities. However, the movie will be released world wide
tomorrow, except in the Mumbai Region.
The Mumbai Region constitutes approximately 10-15 percent of the total
theatrical revenue share. Based on the current decision of the state government
authorities, the Directors believe that UMP will be able to release the Film
next week in theatres across the Mumbai Region and the pay per view and video on
demand for the Film will be available to all five DTH operators in India as
planned. The music and home video rights for the Film have already been pre-sold
to T-Series and Moser Baer.
In order to reduce any possible negative impact from the Company not being able
to screen the Film in theatres across the Mumbai Region over the opening weekend
of the Film, the Company has arranged for paid previews at a premium ticket
price of the Film tonight in 200 theatres across India, other than the Mumbai
Region.
An extensive media campaign for the Film has generated significant curiosity
both in the domestic and international markets and the Directors anticipate a
good response from the audiences worldwide.
Additionally, the Board would like to announce that the Company has already
pre-sold the rights of its first release for the quarter "Agyaat" and has two
more movies "Aagey Se Right" and "What's your Raashee?" lined up for release
this quarter.
In light of all the factors stated above, the Directors believe that the
quarterly performance of the Company will not be impacted by the short closure
of theatres across the Mumbai Region and look forward to releasing the Film and
other scheduled releases in the this region as soon as cinemas in are given
permission to re-open.
CONTACTS
UMP Plc+91 22 4098 1514
Siddharth Roy Kapur
Grant Thornton UK LLP (Nomad) +44 207 383 5100
Fiona Owen
Jermyn Capital Partners Plc (Broker)+44 207 399 2020
Mehmet Ahmed/ Christopher Morris
This information is provided by RNS
The company news service from the London Stock Exchange
END
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