SEVEN WEST MEDIA LIMITED Seven West Media Limited ("Seven West Media") is pleased to announce the completion of the retail component of its 2.27 for 3 conditional, accelerated, non-renounceable entitlement offer to all eligible shareholders of new Seven West Media ordinary shares ("New Shares") at $1.25 per share
("Offer Price") ("Pro-rata Offer").
Following the completion of the Retail Entitlement Offer, which closed on Thursday, 28 May 2015, a total of $311 million has been committed under the Pro-rata Offer, in excess of the underwritten amount of $150 million.
The strong support from Seven West Media shareholders is an endorsement of the Company's market leading media assets and the proceeds from the Pro-rata Offer will be used to reduce debt.
The Pro-rata Offer is conditional on shareholders passing the resolutions to be put at the general meeting on Tuesday, 2 June 2015. In the event shareholders pass the resolutions, allotment of new Seven West Media ordinary shares under the retail and institutional components of the Pro-rata Offer will occur on Thursday, 4 June 2015, with normal trading to commence on Friday, 5 June 2015.
For further enquiries, please contact:
Investor Enquiries: Alan Stuart | Media Enquiries: John Hurst | Luis Garcia |
Seven West Media | Cannings | Cannings |
Investor Relations | Media Relations | Media Relations |
Tel: +61 2 8777 7211 | Tel: +61 2 8284 9901 | Tel: +61 2 8284 9911 |
Email: astuart@seven.com.au | Email: jhurst@cannings.net.au | Email: lgarcia@cannings.net.au |
50 HASLER ROAD, OSBORNE PARK WA 6017 AUSTRALIA
T +61 8 9482 3111 F +61 8 9482 90801
Important Notices
Not an offer
Nothing in this announcement constitutes an offer of securities for sale or an offer to purchase any securities, or an invitation to any person to make such an offer, in any jurisdiction.
This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States. The securities to be offered and sold in the institutional placement have not been, and will not be, registered under the U.S. Securities Act of 1933 (the "Securities Act") or the securities laws of any state or other jurisdiction of the United States. Securities may not be offered or sold in the United States absent registration under the Securities Act or an exemption from registration. Accordingly, the securities to be offered and sold in the institutional placement may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable U.S. state securities laws.
Forward looking statements
Certain statements in this announcement, including statements regarding the results of the offer, are forward looking statements. Forward looking words such as, "strategy", "expect", "should", "could", "may", "predict", "plan", "will", "believe",
"forecast", "estimate", "target" and other similar expressions are intended to identify forward‐looking statements within the
meaning of securities laws of applicable jurisdictions. These forward-looking statements reflect various assumptions and
estimates that may or may not be correct. Accordingly, these statements are not guarantees of future performance and involve known and unknown risks, uncertainties and contingencies that may be beyond the control of Seven West Media and which could cause actual results or trends to differ materially from those expressed or implied in such statements. Consequently, there can be no assurance that such statements and projections will be realised. Neither Seven West Media, or any of its affiliates, advisers, consultants, agents or any of their respective officers or employees make any representations as to the accuracy or completeness of any such statement of projections or that any guidance will be
achieved. Such forward‐looking statements only speak as to the date of this announcement and Seven West Media
assumes no obligation to update such information.
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