Central Works Council TMG supports recommended public offer by Mediahuis and VP Exploitatie
Central Works Council revokes intended Enterprise Chamber procedure
The Central Works Council of TMG has provided an advice in which the Central Works Council follows the intention to recommend the offer by Mediahuis and VP Exploitatie. Thus fulfilling one of the conditions of the offer. In addition, the Central Works Council has announced to revoke the intended procedure with the Enterprise Chamber.
The Central Works Council has made agreements with the Consortium of Mediahuis and VP Exploitatie and with TMG relating to strategy, financial policy, independent journalism, governance, employees and workers participation. These agreements will be summarized in the position statement of TMG. The content of the agreements and the constructive consultation, have led to increased confidence at the Central Works Council that acquisition of TMG by Mediahuis will contribute to the recovery of TMG and its growths perspectives, also in the multi media space. Having obtained the Central Works Council’s advice, the Works Council consultation procedure in respect of the Offer and all transactions related thereto, has now been completed.
Ria Mul, Chairman of the Central Works Council: “The Central Works Council has tried to make the connection with all groups within TMG during the whole process. The Central Works Council is convinced that its approach to enter into discussions and come to agreements based upon being well-informed was the right approach. The Central Works Council has been focused on what was needed to turn TMG into a healthy company again. We have had to make difficult choices and deliberations, but we trust that this advice will contribute to a secure future for TMG and its employees. We hope that it will also contribute to the acceptance of the decision that will be made, will lead to closing of the ranks within TMG and be a starting point for a solid future.”
Further announcements will be made if and when required.
This is a public announcement by Telegraaf Media Groep N.V. pursuant to section 17 paragraph 1 of the European Market Abuse Regulation (596/2014).
About Telegraaf Media Groep
Telegraaf Media Groep N.V. (TMG) is one of the largest media companies in the Netherlands, with strong brands such as De Telegraaf, DFT, Telesport, Metro, Autovisie, Privé and VROUW; regional daily newspapers such as the Noordhollands Dagblad and the Gooi- en Eemlander; digital brands such as GeenStijl, Dumpert and Gaspedaal; Classic FM and - via a strategic partnership with Talpa - the national radio stations Sky Radio, Radio Veronica, Radio 538 and Radio 10. We also have dozens of other brands and titles that focus on providing local news, entertainment or e-commerce (including GroupDeal). Via Keesing Media Group we are the market leader in Europe in puzzle magazines and digital puzzles. TMG’s mission is to supply consumers with high-quality, personalised and relevant content in the areas of news, sports and entertainment through all conceivable distribution channels 24 hours a days, 7 days a week. For more information about TMG, visit www.tmg.nl.