Country for PR: United States
Contributor: PR Newswire New York
Thursday, November 26 2020 - 12:13
Mittleman Brothers Releases Presentation Noting Concerns about Proposed BGH Capital-led Management Buy-Out of Village Roadshow Ltd.
NEW YORK, Nov. 26, 2020 /PRNewswire-AsiaNet/ --

Mittleman Investment Management, LLC ("Mittleman Brothers" or "we"), an 
SEC-registered investment advisor, through its managed accounts, and its parent 
company, Aimia Inc. (TSX: AIM), combined represent the 2nd largest shareholding 
of Village Roadshow Ltd. ("VRL" or "the Company") (ASX: VRL) with a 15.1% stake 
as of November 25, 2020.

Mittleman Brothers today posted a presentation on its website which describes 
the concerns we have regarding the currently proposed takeover of Village 
Roadshow by BGH Capital in partnership with Village Roadshow's controlling 
shareholders.  We believe these concerns should be addressed by the Company so 
that a fully informed shareholder vote can occur at the virtual meeting to be 
held on December 7, 2020.

The current A$2.95 to A$3.00 range of best outcomes provided still appears 
unfairly low versus our estimate of indicative fair value which is currently 
A$5.24 per share and described in more detail in the presentation.

We are currently evaluating the new offer and awaiting further information 
before we determine how we intend to vote our shares.

The presentation is available at this link:


This communication is not a solicitation of a proxy from any investor or 

This communication is not intended to, and does not, constitute or form part of 
(1) any offer or invitation to purchase or otherwise acquire, subscribe for, 
tender, exchange, sell or otherwise dispose of any securities, (2) the 
solicitation of an offer or invitation to purchase or otherwise acquire, 
subscribe for, sell or otherwise dispose of any securities or (3) the 
solicitation of any vote or approval in any jurisdiction pursuant to this 
communication or otherwise, nor will there be any acquisition or disposition of 
the securities referred to in this communication in any jurisdiction in 
contravention of applicable law or regulation. 


Mittleman Brothers (i.e. Mittleman Investment Management, LLC) is an 
SEC-registered investment advisor that provides discretionary portfolio 
management for high net worth individuals and institutions. The Firm's 
value-oriented strategy is to invest in a concentrated portfolio of primarily 
common stocks, unrestricted as to market capitalization, of both domestic and 
international companies. The Firm pursues superior returns through long-term 
investments in those securities it deems to be significantly undervalued. For 
more information on the firm and its services, please visit our website at or contact Evan Newman at 212.217.2340

About AIMIA: 

Aimia Inc. (TSX: AIM) is an investment holding company with a focus on 
long-term investments in public and private companies, on a global basis, 
through controlling or minority stakes.  The company operates an investment 
advisory business through its wholly-owned subsidiary, Mittleman Investment 
Management, LLC, and owns a diversified portfolio of valuable investments 
including a 48.9% equity stake in PLM Premier, S.A.P.I. de C.V. (PLM), owner 
and operator of Club Premier, the coalition loyalty program in Mexico that 
operates the Aeromexico Frequent Flyer program, a 49.3% equity stake in 
Kognitiv, a B2B technology and services company with a collaborative commerce 
technology platform, a 20.0% equity stake in BIGLIFE, the operator of BIG 
Loyalty, one of the largest loyalty programs across Asia, a 10.85% stake in 
Clear Media Limited (100.HK), one of the largest outdoor advertising firms in 
China, as well as minority stakes in JCDecaux (DEC.FP), the global leader in 
outdoor advertising, and Village Roadshow (VRL.AU), a leading entertainment 
company in Australia.

CONTACT: Christopher P. Mittleman, Chief Investment Officer, Mittleman 
Brothers, 105 Maxess Road, Suite 207, Melville, NY 11747, Main: +1 212-217-2340 
| Direct: +1 212-217-2341 | Fax: +1 212-217-2350,,

SOURCE: Mittleman Brothers, LLC