Digital Vision Presents Solution to Financial Problems by Offering Guaranteed Share Issue

Publish date:

Stockholm, Sweden, December 18, 2009 Digital Vision AB, which is under reorganization, has today at a board meeting decided to convene an extra general meeting to decide on a new share issue in the company. This issue guarantees the company a capital injection of SEK 25 million and reduced debt burden of approximately SEK 35-55 million. The purpose of the issue is to resolve the strained financial situation the company finds itself in and to create the opportunity for a return to profitability in 2009. The company has, since the reorganization was granted on October 9, 2008 determinedly worked to reduce costs and further develop its business model. With the guaranteed capital injection of SEK 25 million, the company can now return to full activity and thereby ensure that customers can continue to receive the service levels and product development they have come to expect from Digital Vision. �It is with great pleasure that I can report that funding for the continued operation of Digital Vision has been secured," said acting CEO Gert Schyborger. “It shows how great the interest and confidence is in Digital Vision and our products that we can ensure funding in the current turbulent financial climate. We can now plan for a continuing restructure that will create stability for Digital Vision during 2009 and beyond. We will review the company's business model and improve cashflows and margins while reducing operating costs. We will also expand the number of sales channels and customer segments with new products. The Board has also begun a recruitment process to find a new CEO for the company.� “Despite the unsettled situation over the past three months a major commitment from employees and customers has shown confidence in the company,� continues Schyborger. This quarter order intake is SEK 17.2 million and further orders are expected before year-end. The Board sees continued demand for the products and systems that Digital Vision offers for post processing of film and video in digital form. The company’s customers are situated all over the world and are some of the leading companies within TV and film. Taking a longer perspective, the transition to digital television and the introduction of HDTV and Blu-ray Disc is continually increasing the requirement for higher image quality, which in turn stimulates the demand for the products and technology that Digital Vision offers. The Board proposes meeting to adopt the following decisions to strengthen the company's liquidity position and reduce its debt burden: • Implement a new issue of preference for existing shareholders to subscribe for four (4) new shares with the support of one (1) old (4:1) to the subscription rate 25 ore. Total can be a maximum of 163 100 220 new shares issued, which would bring the company 25 Million SEK, and • One (1) convenience warrant per two (2) shares with a strike price of 25 öre. The exercise period for the subscription period will be in connection with the publication of the biannual report. For the full subscription of the rights offering represents the warrants 81 550 110 new shares. • Implement a set-off issue with a subscription price of 50 cents directed to the current holders of convertible debentures and creditors regarding a short-term loan of approximately SEK 15 million due to high interest rates. Total may set-off issue cover of about SEK 55 million and a maximum of 111 024 826 new shares. Provisional timetable The subscription period for the issuance is scheduled to start in mid-February 2009 and the share issue is expected to be the Company at the end of March 2009. A prospectus will be published in connection with the subscription period beginning • In order to be able to use a portion of the gross proceeds directly to the repayment of the debt covered by the moratorium in respect of reorganization, the company intends to apply for an extension of the ongoing business restructuring for a further three months from January 9, 2009. • In order to secure financing for ongoing operations, the company has received a bridging credit of SEK 3 million for the period leading up to that issue will the company be liquidated. Summons to the Extra General Meeting will take place during week 52, 2008, and it will be held on January 23 2009. For further information, please contact: Gert Schyborger, tel: +46 (0)733 764 500, e-mail:

Per Olsson, IR-manager, telephone: +46 (0)735 344 373, e-mail:

Lars Eric Gustafsson, lawyer, tel: +46 (0)8 505 501 21, e-mail:



IP Showcase at 2019 NAB Show Highlights Advances in Technology and Deployment of IP for Media

The IP Showcase has become a must-see exhibit for anyone deploying IP technology for real-time broadcast. Once again it is sponsored by major technical and standards organizations within the broadcast industry — Audio Engineering Society (AES), Alliance for IP Media Solutions (AIMS), Advanced Media Workflow Association (AMWA), European Broadcasting Union (EBU), Society of Motion Picture and Television Engineers® (SMPTE®), and Video Services Forum (VSF).


Hawk-woods launches first portable power solution for 48-volt cinema lighting

Hawk-woods is pleased to announce the new 48V-RP power station, a unique power solution which allows users to power ARRI Skypanels and other 48 volt (V) LED lighting when mains power is not available. Hawk-woods new 48V-RP is one of the first power solutions which enables users to run high voltage LEDs at 100% light output via a DC input.