Zegona Communications PLC Hedging Transaction (9077U)
09 Abril 2021 - 1:00AM
UK Regulatory
TIDMZEG
RNS Number : 9077U
Zegona Communications PLC
09 April 2021
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ZEGONA COMMUNICATIONS PLC ("Zegona")
LEI: 213800ASI1VZL2ED4S65
9 APRIL 2021
HEDGING TRANSACTION
Zegona Limited ("Zegona") yesterday entered into a Deal
Contingent Forward Purchase Agreement with Barclays Bank PLC to
hedge the full amount of proceeds it expects to receive on the
successful completion of the tender offer (the "Offer") to acquire
100% of Euskaltel, S.A. for EUR11.17 per share in cash launched by
a wholly-owned subsidiary of MasMovil Ibercom, S.A.U. on 28 March
2021 (as it may be amended or supplemented from time to time).
Under the terms of the contract, Zegona will receive GBP370 million
in respect of the expected proceeds of EUR428 million if the Offer
is successfully completed.
Enquiries
Tavistock (Public Relations adviser - UK)
Tel: +44 (0)20 7920 3150
Lulu Bridges - lulu.bridges@tavistock.co.uk
About Zegona
Zegona was established in 2015 with the objective of investing
in businesses in the European Telecommunications, Media and
Technology sector and improving their performance to deliver
attractive shareholder returns. Zegona is led by former Virgin
Media executives Eamonn O'Hare and Robert Samuelson.
About Euskaltel
Euskaltel S.A. ("Euskaltel") is the leading converged
telecommunications provider in the North of Spain and has recently
expanded to offer services nationally. It provides high speed
broadband, data rich mobile, advanced TV and fixed communications
services to residential and business customers under the Euskaltel,
R Cable, Telecable and Virgin telco brands. Euskaltel is a public
company traded on the stock markets of Bilbao, Madrid, Barcelona
and Valencia.
IMPORTANT NOTICES
Zegona is listed on the standard listing segment of the Official
List of the Financial Conduct Authority and the Main Market for
listed securities of the London Stock Exchange. This announcement
has been prepared in accordance with English law, the Listing Rules
and the Disclosure Guidance and Transparency Rules and information
disclosed may not be the same as that which would have been
prepared in accordance with the laws of jurisdictions outside
England. The distribution of this announcement in jurisdictions
outside the United Kingdom may be restricted by law and therefore
persons into whose possession this announcement comes should inform
themselves about and observe such restrictions. Any failure to
comply with the restrictions may constitute a violation of the
securities law of any such jurisdiction. Neither the content of
https://www.euskaltel.com/CanalOnline/investors, nor the content on
any website accessible from hyperlinks on Euskaltel's website or
any other website, is incorporated into, or forms part of, this
announcement nor, unless previously published by means of a
recognised information service, should any such content be relied
upon in reaching a decision as to whether or not to acquire,
continue to hold, or dispose of, securities in Zegona.
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END
MSCFFFEISEITIIL
(END) Dow Jones Newswires
April 09, 2021 02:00 ET (06:00 GMT)
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