Share Buy-Back Resolution
24 Februar 2006 - 8:01AM
UK Regulatory
RNS Number:8693Y
BKN International AG
24 February 2006
Press Release 24 February 2006
BKN International AG
("BKN" or the "Company")
NEW BOARD RESOLUTION REGARDING SHARE BUY-BACK PROGRAM AND ZORRO PRODUCTION
BKN, a global animation company engaged in the distribution and marketing of
animated children's television programmes and related consumer products, has
decided to end the previously announced share buyback program.
The Company announced on 7 February 2006 that it has acquired the rights to a
new Zorro property entitled Zorro: Generation Z that has substantial promise but
will require funding. The Directors believe that the Company and its
shareholders will be better served by directing the funds previously allocated
for the share buyback to the development of the Zorro: Generation Z project.
Allen Bohbot, Chairman and Chief Executive of BKN International, commented: "We
have strong expectations from this new Zorro production and should be investing
our resources into these assets. Accordingly, we will cease our share buyback
program so as to accomplish our primary goals."
-Ends -
Enquiries:
BKN International AG
Allen Bohbot, Chief Executive Officer Tel: +44 (0)20 7269 8683
allen.bohbot@bknkids.com
--------------------------
Wayne Mowat, Chief Financial Officer Tel: +44 (0)20 7269 8687
wayne.mowat@bknkids.com
--------------------------
Broker/Designated Sponsor:
Panmure Gordon Nominated Adviser & UK Broker
Aubrey Powell / Stuart Gledhill Tel: +44 (0) 20 7459 3600
aubrey.powell@panmure.com
stuart.gledhill@panmure.com
Seydler AG in Germany Designated Sponsor
Rene Parmantier Tel: +49 69 92054 130
rene.parmantier@seydler.de
Deutsche Bank German Broker
Jens Hagemann Tel: +49 69 910 34495
jens.hagemann@db.com
Notes to editors:
About BKN:
BKN International AG is a global animation company engaged in the distribution
and marketing of animated children's television programmes and the marketing of
related consumer products (licensing and merchandising) in all forms. BKN has
worked on numerous successful animation projects.
The Company is currently listed on the Deutsche Bourse and AIM and it operates
all over the world. BKN has successfully negotiated distribution deals in over
80 countries and territories in the children's programming market.
The Company's Film Library includes:
- Legend of the Dragon
- UBOS
- Kong - The Animated Series
- Kong - King of Atlantis
- Kong II - Return to the Jungle
- Dork Hunters from Outer Space
- Roswell Conspiracies
- Shanghai Tiger
- Adventures of Sonic the Hedgehog
- Pocket Dragon Adventures
- Highlander - The Animated Series
This information is provided by RNS
The company news service from the London Stock Exchange
END
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