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11 Nov 2008 07:00
TVC Holdings increases its shareholding in UTV Media plc to 18%
TVC Holdings plc, the publicly quoted investment holding company, today (Tuesday, 11 November 2008) announced that it has acquired an additional 3% shareholding in UTV Media plc ("UTV"), for a total consideration of £2.2m (€2.7m). This additional investment brings TVC's aggregate shareholding to 18%. This investment follows TVC's announcement in July 2008 that it had acquired a shareholding of 15% in UTV, becoming the largest single shareholder in UTV. Shane Reihill, Executive Chairman of TVC Holdings, was appointed to the board of UTV on 10 September 2008.
This investment reflects TVC Holdings' stated investment strategy of acquiring significant stakes in both public and private companies across a range of sectors, principally in the UK and Ireland. TVC's existing portfolio also includes the publicly quoted company, Norkom Group plc, and the Maldron hotel chain, led by Pat McCann, ex CEO of Jurys Doyle Group plc.
Ends. Tuesday, 11 November 2008
For reference: Pauline McAlester
Murray Consultants
Tel: +353-1-498 0300
Davy
John Frain
Tel: +353-1-6796363
For the latest annual report of TVC Holdings plc and other investor information please consult the Company's website: www.tvc.com
Notes to Editors
UTV's business includes radio, television and new media assets in Great Britain and Ireland. The Group is listed on the Official List of both the London Stock Exchange and the Irish Stock Exchange. UTV's multimedia assets include UTV Limited, the Channel 3 licence holder for Northern Ireland, a series of local radio stations, (including FM104 in Ireland), talkSPORT, the national radio sports station in Great Britain, and UTV internet.
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