Telecom Italia Media S.p.A.: capital increase underway

05/19/2010 - 07:51 PM

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Consob gives prospectus the go-ahead

Board to set terms and conditions tomorrow

NOT FOR PUBLICATION OR DISTRIBUTION EITHER DIRECTLY OR INDIRECTLY IN THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA

Telecom Italia Media S.p.A. announces that today it received CONSOB authorization to publish its rights issue prospectus and to list ordinary shares arising from the share capital increase – up to a ceiling of €240 million, as resolved by the Shareholders' Meeting in extraordinary session on 8 April – on the telematic stock exchange (MTA) run by Borsa Italiana S.p.A.

Tomorrow afternoon the Company Board is scheduled to meet in order to establish the offer terms and conditions, most notably the unit subscription price for the newly-issued shares, the total number of shares, and the option ratio for the issue of the new shares.

The prospectus will be completed on the basis of items deliberated on 20 May 2010 by the Board of Directors and will be filed with CONSOB. Immediately afterwards, it will be published in electronic form and made available free of charge from the Company's registered offices (in Rome at Via della Pineta Sacchetti, 229) and Borsa Italiana S.p.A. (Milan, at Piazza degli Affari, 6). The prospectus will also be available on the Company's website (http://www.telecomitaliamedia.it/).

Pursuant to the content of the prospectus, the rights may be exercised between 24 May 2010 and 11 June 2010 (the “Offer Period”), and may be traded on the stock exchange between 24 May 2010 and 4 June 2010. By the end of the month subsequent to the expiry of the Offer Period, pursuant to article 2441, sub-section 3 of the Italian civil code, the company will offer on the stock exchange any rights not exercised during the aforementioned period and will be empowered to place any new shares that may remain unsubscribed with third parties after the stock exchange offer has concluded.


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This press release is not for distribution in the United States of America, Canada, Australia or Japan. The information contained herein does not constitute and shall not be interpreted as a direct or indirect offer by Telecom Italia Media S.p.A. or an invitation to subscribe or purchase shares in countries other than Italy (hereinafter the “Other Countries”), including without limitations the United States of America, Canada, Japan, and Australia. The shares have not been, and are not intended to be, registered before the competent authorities pursuant to the United States Securities Act of 1933, as integrated and amended (hereinafter the “Securities Act”), or applicable laws in force in Canada, Japan, Australia and in the Other Countries. None of the said financial instruments may be offered, negotiated, sold or in any case delivered, directly or indirectly, in the United States of America, Canada, Japan, Australia or the Other Countries, and the Company reserves the right not to allow such exercise. It may be unlawful to distribute these materials in certain jurisdictions.

 

Rome, 19 May 2010