Edison Investment Research - Technicolor SA (TCH) Technicolor - FY20â€“22 strategic plan and fundraise

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Edison Investment Research

Richard Williamson

Technicolor - FY20â€“22 strategic plan and fundraise

Technicolorâ€™s new CEO, Richard Moat, appointed in November 2019, has completed his review of the group. He has now set out his strategy to play to the groupâ€™s commercial strengths and put it on a firmer financial footing. More detail will be added at a capital markets day scheduled for 19 February. Cost savings of â‚¬150m have been identified (an additional â‚¬110m to those already being implemented, and at an implementation cost of â‚¬90m over three years) and an underwritten rights issue of â‚¬300m is envisaged. Key lenders will then extend the debt facilities, subject to the successful completion of the rights Issue.

14/02/2020 2 EN

Underlying

Technicolor SA

Technicolor is engaged in the media and entertainment and consumer services industries. Co. develops technologies that provide the solutions and services offered to its business clients (content creators and distributors, Network Service unique expertise to patent its innovation and monetize its IP portfolio, Providers and Pay-TV operators). Co.'s innovation and Intellectual Property (IP) portfolio comprises video, audio, communication/interoperability, content distribution and local network technologies. Co.'s activities can be divided into three main segments: Technology, Entertainment Services and Connected Home.

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FR0010918292 France

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Richard Williamson

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Technicolor - FY20â€“22 strategic plan and fundraise

Technicolor: Launch of the distribution of 65% of Technicolor Creative Studios to Technicolor shareholders

Technicolor : Lancement de la Distribution en Nature de 65 % de Technicolor Creative Studios aux actionnaires de Technicolor

Technicolor: Update on the refinancing and Spin-off process

AGBA - A transformational deal

Biodexa Pharmaceuticals - In a period of transition

Norcros - Sale of Johnson Tiles UK agreed

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