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Trader Media East Ld - Statement re. Potential Restructuring

Tue, 6th Aug 2019 16:46

RNS Number : 1481I
Trader Media East Ltd
06 August 2019
 

PRESS RELEASE

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

 

Assessment of opportunities with respect to the potential restructuring of Trader Media East Ltd.

Amsterdam, The Netherlands - 6 August 2019

The Board of Directors of Trader Media East Ltd. ("TME" or the "Company"), as part of its continued focus on identifying, developing and evaluating opportunities to reduce the Company's ongoing costs and minimise losses, is contemplating a number of restructuring and strategic solutions for TME's remaining assets. In this context, the Board of Directors intends to perform an assessment of the direct and indirect benefits and costs associated with the listing of depository receipts representing ordinary shares in TME ("GDRs") on the standard segment of the Official List and to trading on the London Stock Exchange's Main Market. It cannot be excluded that following any such assessment the Board of Director may determine that it is in the best interest of the Company and its stakeholders (including, but not limited to, the shareholders) to cancel the listing of the GDRs ("De-listing"), and terminate the deposit agreement dated 10 February 2006 between the Company and The Bank of New York ("Termination"). However, there can be no assurance about the outcome of the above-mentioned assessment and that the Board of Directors will ultimately conclude that the De-listing and Termination within this context is in the best interest of the Company and its shareholders/ stakeholders (including, but not limited to, the shareholders). In case of subsequent developments, further announcements will be made in due course.

A copy of this announcement will be made available on the Regulatory News segment of the London Stock Exchange.

 

Investor Relations Contact Information

Mr. Semih Metin

Investor Relations Manager

Tel. : +90 212 449 60 30

E-Mail : semihmetin@hurriyet.com.tr

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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