Eros STX adjourns bondholder meeting, postpones vote to Sept. 20

By William Gullotti

Buffalo, N.Y., Sept. 3 – Eros STX Global Corp. was forced to adjourn its initial bondholder meeting due to lack of quorum, according to a press release Friday.

The initial meeting, as previously reported, was for bondholders of its £50 million 6½% bonds due Oct. 15 (ISIN: XS1112834608) to approve certain modifications to the trust deed and a waiver of a breach of certain provisions of the conditions of the trust deed and any related event of default or potential event of default for approval by extraordinary resolution at a bondholder meeting.

Quorum for the initial bondholder meeting was defined as follows: two or more persons holding at least 75% of the nominal amount of the bonds. The adjourned meeting, to be held Sept. 20, only requires a quorum of shareholders representing at least 25% of the outstanding bonds. The 75% majority of votes cast required to pass the extraordinary resolution remains unchanged.

Based on the votes submitted to date, the company expects to satisfy the new quorum requirement and pass the amendments.

The solicitation agent is Peel Hunt LLP (+44 20 7418 8900, erosstx@peelhunt.com).

Lucid Issuer Services Ltd. is the tabulation agent (+44 20 7704 0880, eros@lucid-is.com).

Eros STX Global is a global entertainment company that acquires, co-produces and distributes films, digital content and music across multiple formats. It has headquarters in Douglas, Isle of Man, and Burbank, Calif.

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