19 Jun 2013 08:05
Independent News & Media PLC ("INM" or "the Company")
Ticker: (Bloomberg) INM.ID/ INM.LN and (Reuters) INME.I/ INME.L
Change in Nominal Value of Share Capital
Following the approval of the relevant resolution at the Company's Extraordinary General Meeting held in Dublin on 17 June, 2013, INM confirms that the Share Capital Reorganisation has been duly implemented with effect from 8.00 a.m. on 19 June, 2013 by reference to holdings of existing ordinary shares on the register of members of the Company as at 6.00 p.m. on 18 June, 2013.
The Share Capital Reorganisation involves a sub-division of the share capital in order to ensure the Company is in a position to issue new ordinary shares pursuant to the previously announced Restructuring.
The new nominal value of the ordinary shares is €0.01 (previously €0.35) and deferred shares of nominal value of €0.34 have also been created. The deferred shares have no significant rights and have no, or negligible, economic value.
Each ordinary share of nominal value €0.01 ("Ordinary Shares") has the same rights (except as to nominal value) as the previous ordinary shares of nominal value €0.35. There is no change in the number of Ordinary Shares in issue as a result of the Share Capital Reorganisation. The Share Capital Reorganisation does not have any effect on the Company's net assets.
Each Shareholder's proportionate interest in the Company's issued share capital remains unchanged and existing share certificates for existing ordinary shares also remain valid for the same number of Ordinary Shares. The ISIN code of the Ordinary Shares is unchanged (IE00B59HWB19).
Defined terms used in this announcement have the same meaning as in the circular to shareholders dated 24 May, 2013.
19 June, 2013
ENDS