/NOT FOR RELEASE OVER U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
TORONTO, Aug. 15 /CNW/ - Movie Distribution Income Fund (the "Fund")
(TSX: FLM.UN) today announced the completion of the previously announced sale
of the Fund's 49% indirect interest in Motion Picture Distribution LP
("MPDLP") to an acquisition company controlled by EdgeStone Capital Partners
in which GS Capital Partners, an affiliate of Goldman, Sachs & Co., owns an
It is the intention of the Fund to effect the redemption of all of its
issued and outstanding units on Friday, August 17, 2007 for $10 per unit plus
a proportionate distribution of distributable cash for the period August 1st
through to but excluding August 15th of $0.043 per unit.
Following the redemption of the Fund's issued and outstanding units, it
is intended that the Fund will cease to be a reporting issuer and will be
Since the units trade in the book-entry system, unitholders need not take
any action with respect to the final redemption. Beneficial holders of units
will be paid by their broker or other intermediary shortly following the
In connection with the completion of the acquisition, effective at close
of the markets on August 16, 2007, the Fund units will no longer be traded on
the Toronto Stock Exchange.
About Motion Picture Distribution LP and Movie Distribution Income Fund
Motion Picture Distribution LP is a leading distributor of motion
pictures in Canada, with motion picture distribution operations in the United
Kingdom and Spain. MPDLP distributes filmed entertainment to theatres, on
video and DVD, and to television broadcasters.
This press release includes forward-looking statements, which are based
on certain assumptions and reflect the current expectations of the Fund and
MPDLP. Forward-looking statements are those which are not historical fact and
include, but are not limited to, statements of the Fund's or MPDLP's
expectations and intentions. The reader should not place undue reliance on
them. They involve known and unknown risks, uncertainties and other factors
that may cause them to differ materially from the anticipated future results
or expectations expressed or implied by such forward-looking statements.
Important factors that could cause actual results to differ materially from
those set forth in the forward-looking statements include: securities
regulatory relief and changes to the regulatory environment. Additional
information about these factors and other factors are described in materials
filed by the Fund with the security regulatory authorities in Canada from time
to time, including the Fund's and MPDLP's Management's Discussion and Analysis
("MD&A") for the year ended December 31, 2006 and for the period ended
March 31, 2007, as well as the Fund's management information circular dated
July 6, 2007. Neither the Fund nor MPDLP undertakes any obligation to publicly
update or revise any forward-looking statements or information, whether as a
result of new information, future events or otherwise.
(*) "Alliance Atlantis" with the stylized "A" design is licensed from
Alliance Atlantis Communications Inc., an indirect limited partner of
Motion Picture Distribution LP, not a general partner.
For further information:
For further information: Lloyd A. Wiggins, Chief Financial Officer,
Movie Distribution Income Fund, Tel: (416) 966-7266,