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A tranquil summer day in the Moomin Valley is interrupted by a volcanic eruption and a huge surge. Water rises higher and higher, but at the last minute the Moomin family finds refuge in a strange house that floats to their rescue. It turns out this is not an ordinary house but a theatre stage, and the home of certain theatre-loving Emma. Somewhat reluctantly Emma agrees to help the Moomin family who want to produce a play which Moominpappa begins to write.

Problems arise when Moomintroll and the Snork Maiden are separated from the others by accident. During their journey back to the theatre they meet Fillyjonk and spend a wild Midsummer Eve around a bonfire. However, a misunderstanding the following morning makes them fugitives chased by the authorities…

At the same time Little My is also separated from the rest of the family. She runs into Snufkin who has been  wandering on his own. The pair of them challenge the autocratic Park Keeper and end up with a flock of orphan children to look after.

The inhabitants of the Moomin Valley have been thrown about by adventures. Through a series of lucky coincidences they all nevertheless make it to the premier of the Moomin family’s masterpiece “The Lion’s Brides”.