TMG completes sale of Wegener-stake to Mecom
In April 2007 Mecom Group plc (Mecom) acquired TMG’s (Telegraaf Media Groep) interest of 10,594,763 depositary receipts for ordinary shares in Wegener.
At the time it was agreed that under certain circumstances TMG would be able to claim a maximum premium of € 1 per depositary receipt sold to Mecom. The conditions for the claim were recently met, resulting in the receipt of the maximum premium by TMG today.
Following Mecom’s unconditional public offer for all depositary receipts of Wegener ordinary shares, TMG has also sold its 2,593,030 depositary receipts of cumulative preference shares in Wegener with a nominal value of € 0.30, adding up to an amount of € 20,1 million.
With the completion of these transactions TMG has no remaining interest or claims from its former interest in Wegener.