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TV-Loonland CEO to step down end of November 2009

TV-Loonland today announces that Simon Flamank, its CEO since April 2006 will be stepping down from that role following the EGM called for 26th November in Munich.

Press Release from TV-Loonland

Munich/London, 26th October 2009 - TV-Loonland today announces that Simon Flamank, its CEO since April 2006 will be stepping down from that role following the EGM called for 26th November in Munich. At the same time Simon Flamank has accepted the role of COO/CFO for Handmade plc, the UK AIM listed film and media company, taking up that role with effect from 2nd December 2009. TV-Loonland will announce a new CEO within due time.

Simon Flamank commented: “The last three and a half years have been both the most rewarding and also the most difficult for TV-Loonland. Despite many obstacles we have been able to bring to the market quality new productions such as The Owl, Pat & Stan and of course our internationally recognised brand Little Princess”.

At the same time we have had to restructure the business and were able to achieve that through a cancellation of € 14m of debt in a debt for equity swap alongside the repayment of the remaining € 6m of debt through a library and asset sale.

None of this would have been possible without the support of all of the members of staff both past and present who have lived through this transformation and have made it happen.

At the same time the support of the principal shareholder group and also that of the Chairman of the Supervisory Board, Dr Michael Briem, have been invaluable in resolving all of the issues that have confronted this business over this time period.

The forthcoming Extraordinary General Meeting (EGM) marks a new chapter in TV-Loonland’s history and prior to that meeting there will be further announcements made by the company.”

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