ProfMedia announces purchase of Rambler Media shares

17.12.2009

ProfMedia group acting through its holding company PM Invest Company Limited (“ProfMedia”) announces the acquisition of 2,006,522 shares of Rambler Media Limited (“Rambler”) from ING Bank N.V., London Branch (“ING”). ProfMedia now holds 13,554,758 shares in Rambler, or 88.03% of the issued share capital of Rambler. The shares were acquired at a price of USD 6.00 per share, for a total value of USD 12,039,132.

ING entered into a total return swap transaction (“TRS”) with ProfMedia following the Reverse Accelerated Bookbuild transaction which was conducted on 11 November 2009 and resulted in ING holding 2,006,522 shares in Rambler under the TRS. Following the receipt of the relevant regulatory approvals, ProfMedia was allowed to increase its stake in Rambler above 75% of Rambler’s issued share capital. Consequently, the TRS was settled as a result of which ProfMedia acquired the 2,006,522 Rambler’s shares from ING.
Author: ProfMedia