News: VRL Village Roadshow Updates On Its Current Operations And New Financing

Aug 6 (Reuters) - Village Roadshow Ltd (VRL) :

• PROVIDES AN UPDATE ON ITS CURRENT OPERATIONS AND NEW FINANCING.
• ALL QUEENSLAND BASED OPERATIONS ARE CURRENTLY OPEN, OPERATING AT A REDUCED CAPACITY TO COMPLY WITH COVID SAFETY PROTOCOLS
• CINEMAS IN METROPOLITAN MELBOURNE AND SOME AREAS OF VICTORIA ARE CLOSED IN LINE WITH VICTORIAN GOVERNMENT COVID DIRECTIVES
• AS AT 30 JUNE , HAD A NET DEBT POSITION OF ABOUT $280 MILLION
• SECURED ADDITIONAL FUNDING OF $70 MILLION FROM ITS EXISTING LENDERS AND QUEENSLAND TREASURY CORPORATION
• VRL REMAINS IN NEGOTIATION WITH BGH IN RELATION TO A TRANSACTION.
• DELAYING LARGE CAPITAL EXPENDITURE PROJECTS IN ITS CINEMA EXHIBITION DIVISION
• GIVEN AN UNDERTAKING TO RAISE A MINIMUM OF $35 MILLION THROUGH NEW SHAREHOLDER EQUITY OR EQUITY LIKE INSTRUMENTS