Telecom Italia Media: final results of Capital Increase

11/19/2004 - 00:00 PM

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Offer fully subscribed after auction of unexercised options

  Telecom Italia Media confirms the complete success of its capital increase. The public offering of previously unexercised options during the period between November 8-12, 2004, was completed with the full subscription of said options and the corresponding underwriting of 15,071,771 ordinary shares (2.7% of the overall ordinary share offering) for an aggregate value of approximately 3.2 million euros, and of 1,089,737 savings shares (11.5% of the overall savings share offer) for an aggregate value of approximately 0.2 million euros.

The capital increase elicited a very favorable response from the market with the full subscription of the offer. Overall, the issue totaled 573,796,619 shares of 0.03 euros nominal value each, equal to 15.49% of the new share capital. of which 564,333,957 ordinary shares priced at 0.21 euros per share, and 9,462,662 savings shares priced at 0.17 euros each.

Telecom Italia Media S.p.A.’s revised share capital now amounts to 111,107,893.71 euros, consisting of 3,642,519,221 ordinary shares and 61,077,236 savings shares of nominal value 0.03 euros each.

Telecom Italia, which through its direct and indirect holdings controls Telecom Italia Media, subscribed its quota, equal to a total of 352,692,582 newly-issued ordinary shares, for an aggregate value of approximately 74.1 million euros, equal to 62.50% of all ordinary shares on offer, plus 30,239 newly-issued savings shares, for an aggregate value of approximately 5,140 euros, equal to 0.32% of all savings shares on offer. On completion of the issue, Telecom Italia’s equity stake in Telecom Italia Media remains unchanged at 62.50% of the ordinary share capital.