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BRIEF-Netmedia to sell its stake in Inwestycje Alternatywne Profit
October 16, 2017 / 7:46 AM / a month ago

BRIEF-Netmedia to sell its stake in Inwestycje Alternatywne Profit

Oct 16 (Reuters) - NETMEDIA SA:

* SAID ON FRIDAY IT DECIDED TO SELL ITS ENTIRE STAKE HELD DIRECTLY AND INDIRECTLY IN AFFILIATED COMPANY INWESTYCJE ALTERNATYWNE PROFIT SA (IAP)

* CO OWNS A TOTAL OF 7,305,549 IAP SHARES, REPRESENTING A 32.94% STAKE

* PLANS TO SELL THE SHARES AT A PRICE EQUAL TO SHARES’ NOMINAL VALUE OF 0.10 ZLOTY/SHARE

* ESTIMATES TOTAL SALE VALUE OF 730,600 ZLOTYS AND EXPECTS TO SETTLE THE TRANSACTION BY OCT. 24

* SALE OF IAP SHARES FOR THIS AMOUNT MEANS A FINANCIAL LOSS ON THIS TRANSACTION AT THE CONSOLIDATED LEVEL OF 1.7 MILLION ZLOTYS, WHICH WILL IMPACT CO‘S RESULTS IN Q4 2017 AND FY 2017

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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