Independent News & Media Regulatory News (INM)

2 Nov 2009 11:56

Independent News & Media PLC

Issue of Circular convening Extraordinary General Meeting in relation to Proposed Disposal of INM Outdoor

Dublin/London - 2nd November, 2009: Independent News & Media PLC ("INM", "the Company" or "the Group") announces that it has today issued a circular to shareholders convening an extraordinary general meeting of the Company ("EGM") for 11.00 a.m. on 26th November, 2009 ("Circular"). This follows the Board's announcement on 28th August, 2009 that the Group had conditionally agreed to dispose of its entire shareholding in INM Outdoor (the "Disposal") for gross sale proceeds of ZAR1,100 million (approximately €98 million).

The Disposal is conditional, inter alia, on the approval by Shareholders of an ordinary resolution, to be put forward to Shareholders at the EGM to approve the Disposal. 

All capitalised/defined terms in this announcement have the same meaning as those contained in the Circular issued to shareholders.

A copy of the Circular is available for download from the Company's website: www.inmplc.com.

A copy of the Circular, which is being posted to Shareholders in INM today, has also been submitted to the Irish Stock Exchange and the UK Listing Authority, and will shortly be available for inspection at the following locations:

1. Company Announcements Office, Irish Stock Exchange,

28 Anglesea Street,

Dublin 2,

Ireland.

Tel: + 353 1 6174200

2. Financial Services Authority,

25 The North Colonnade,

Canary Wharf,

London E14 5HS,

United Kingdom.

Tel: + 44 207 066 1000.

For further information, please contact: