NEW YORK, Oct. 26 /CNW/ - On October 26, 2009, MHR Fund Management LLC ("MHR") announced that it intends to file an updated early warning report with applicable Canadian securities regulators in respect of holdings of common shares ("Common Shares") in the capital of Lions Gate Entertainment Corp. (trading symbol "LGF" on the New York Stock Exchange) (the "Company"). Investment funds affiliated with MHR currently collectively hold 23,165,278 Common Shares, representing approximately 19.8% of the issued and outstanding Common Shares. In addition, Mark H. Rachesky M.D. ("Dr. Rachesky") holds 12,500 restricted share units payable upon vesting in an equal number of Common Shares.
On October 22, 2009, MHR and certain investment funds affiliated with MHR (collectively, the "MHR Group") entered into a registration rights agreement with the Company (the "Registration Rights Agreement"). The Registration Rights Agreement provides for, among other things, the registration under the United States Securities Act of 1933, as amended, of certain Common Shares held by the MHR Group. As previously disclosed, Dr. Rachesky had previously entered into a Letter Agreement, dated July 9, 2009, with the Company which provided that, subject to certain terms and conditions, the Company would enter into a registration agreement with the MHR Group.
MHR's address is 40 West 57th Street, 24th Floor, New York, New York 10019, USA.
SOURCE MHR FUND MANAGEMENT LLC
For further information: For further information: or to obtain a copy of the report required pursuant to the early warning reporting requirements, please contact: Adam Friedman, Adam Friedman Associates, (212) 981-2529 ext.18, Adam@adam-friedman.com