UGC and Ymagis sign a framework agreement for the conversion of 600 screens to digital projection

http://www.digitalcinemainfo.com/UGC-Group_03_04_10.php

March 4, 2010

Source: UGC Group

The UGC Group and Ymagis have signed an agreement whereby Ymagis will act as a third-party investor and a third-party VPF collector.

The agreement will allow the circuit’s 600 screens to switch to digital within 24 to 36 months, according to a rollout calendar focussing initially on digital projection in 3D, and subsequently on the complete conversion of all theatres.

The agreement will enable the implementation of this technology without hindering UGC's investment and innovation capacities. The group’s transition to digital will thus be compatible with the investments required to expand and upgrade the circuit. In view of various initiatives emanating from the supervisory authority and competitors, and of the adoption by the public of 3D projection, which requires digital projection, the group believes this is the right moment to optimise the conditions of this conversion.

About UGC: UGC is one of the leading European cinema groups, active in France, Belgium, Spain and Italy. It is also one of the major players in European cinema production and distribution.

About Ymagis: Ymagis is one of the main third-party facilitators for digital projection in Europe. The company occupies a leading position in France and is already the partner of operators in Spain, Belgium, Luxembourg and Germany.