GIMV realises EUR 11.8 million capital gain as a result of the exercise of the Telenet options by Liberty Global

21-06-2007 14:00

GIMV announces that, as a result of the exercise of the call option on Telenet Group Holding by Belgian Cable Investors, which is controlled by Liberty Global, it realizes a capital gain of EUR 11.8 million on these shares. The exercise of this option signifies a cash income for GIMV of EUR 95.1 million. The settlement of the exercise will take place within 10 business days of today unless the exercise is withdrawn before settlement.

GIMV held a total of 4,003,794 Telenet shares and 1,416,000 Telenet warrants prior to the exercising of the option.

  • Belgian Cable Investors, controlled by Liberty Global, has exercised its call options on 3,804,450 shares of Telenet Group Holding owned by GIMV. These were exercised at a price of EUR 25 per share which signifies a cash income for GIMV of EUR 95.1 million. On March 31st 2007 these shares were valued in GIMV’s equity value at EUR 83.3 million, which means that GIMV today realizes a capital gain of EUR 11.8 million or EUR 0.51 per GIMV share.
  • After this transaction GIMV will hold 199,344 Telenet shares, which are free negotiable.
  • Moreover GIMV holds 1,416,000 Telenet warrants, which can be exercised until August 9th 2009 at EUR 13.33.

For more information please conctact:
Mr. Frank De Leenheer – Investor Relations & Corporate Communications Manager GIMV
Tel: +32 3 290 22 18 – E-mail: frankdl@gimv.be
 

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