Shareholders approve restructuring plan. Thomson becomes Technicolor.
Paris - The Ordinary and Extraordinary Shareholders’ Meeting of Thomson (Euronext 18453; NYSE: TMS) was held today, chaired by Frederic Rose, Chairman and Chief Executive Officer, in the presence of the Board of Directors and of Thomson’s senior management.
Shareholders of the Group approved all resolutions, including those pertaining to the Restructuring Plan made public by Thomson on 9 December 2009, and already approved by all creditors’ committees (Suppliers, Lenders and Noteholders) on 21 & 22 December 2009.
In addition, the shareholders approved the change of name of the Group to “Technicolor”. As of Monday, February 1st, the Company will trade on NYSE Euronext Paris under the Technicolor symbol (TCH).
As proposed by Frederic Rose, the roles of Chairman and CEO will be separated under a new governance structure, following the conclusion of the sauvegarde proceeding expected in February. The position had been combined in 2009 in light of the crisis facing the company.
Frederic Rose, Chairman & CEO, commented:
"We are delighted that Shareholders have given their full backing to our restructuring plan. This is a new start for our Group under the Technicolor brand”.
The results of the votes and Thomson’s Ordinary and Extraordinary Shareholders’ Meeting audiocast are available on the Company’s website: www.technicolor.com
Technicolor is a company listed on NYSE Euronext Paris and NYSE stock exchanges. Detailed information on the potential factors that could affect the financial results of Technicolor is contained in Technicolor’s public statements and reports (information réglementée) and Technicolor’s filings with U.S. Securities and Exchange Commission
With more than 95 years of experience in entertainment innovation, Technicolor serves an international base of entertainment, software, and gaming customers. The company is a leading provider of production, postproduction, and distribution services to content creators, network service providers and broadcasters. Technicolor is one of the world’s largest film processors; the largest independent manufacturer and distributor of DVDs (including Blu-ray Disc); and a leading global supplier of set-top boxes and gateways. The company also operates an Intellectual Property and Licensing business unit. For more information: www.technicolor.com
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