XDC International Completes EUR 7.5 million Fund Raising

"The Board of Directors of XDC has approved last week an additional EUR 7.5 million fund raising. Backed by its existing shareholders, XDC shall allocate this funding to its further deployment as market leader for Digital Cinema Services across Europe.

In order to reinforce its management structure, the Board of Directors has appointed M. Serge Plasch as new Chief Executive Officer, as of Januray 1, 2008. He will replace M. Laurent Minguet, founder and CEO, who will step down from his daily executive functions at XDC, but will remain a Board Member of XDC International.

Serge Plasch (40), has been Managing Director of Screenvision Benelux since 2001 where he reinforced the leadership of that major advertising saleshouse for the Cinema Industry. Speaking fluently four languages, English, French, Dutch, German, he will contribute to strengthen XDC position in the large but fragmented European Cinema market.

Last but not least, XDC is currently finalizing some negotiations relating to the co-financing of Digital Cinema deployment by film distributors through dedicated Virtual Print Fees (“VPF”) agreements. Additionally, the Board of Directors has appointed John B. Birchell Hughes as special advisor to the Board of Directors and member of the management board for content related matters."

Source: DCinemaToday