Preliminary result of Alma Media Corporation’s tender offer for all shares in Talentum Oyj

Alma Media Corporation   Stock Exchange Release   17 November 2009 at 13.15

 

PRELIMINARY RESULT OF ALMA MEDIA CORPORATION’S TENDER OFFER FOR ALL SHARES IN TALENTUM OYJ

 

The mandatory tender offer (the “Tender Offer”) by Alma Media Corporation (“Alma Media”) for all issued and outstanding shares in Talentum Oyj (“Talentum”), commenced on 19 August 2009, expired as previously announced on 16 November 2009 at 4:00 p.m. (Finnish time).

 

Alma Media announced on 6 November 2009 that the Finnish Competition Authority approved the Talentum acquisition and the precondition for the completion of the Tender Offer was thus fulfilled.

 

According to the preliminary result of the Tender Offer, shareholders holding a total of 661,295 Talentum’s shares and representing approximately 1.49 per cent of all votes in Talentum have tendered their shares in the Tender Offer in accordance with its terms and conditions. When taking into account the abovementioned shares, Alma Media Group’s holding in Talentum will rise to 14,236,295 shares which represents approximately 32.14 per cent of all votes in Talentum and 32.64 per cent of votes when taking into account 681,000 shares held by Talentum which do not carry a voting right.

 

The final result of the Tender Offer will be published on 19 November 2009.

 

Kai Telanne, President and CEO of Alma Media, states the following:

 

– The approval of the Competition Authority makes it possible for us to complete the mandatory tender offer and allows latitude in respect of our ownership in Talentum in the future. Talentum’s recent statements regarding short-term outlook, amongst others, support our view of the offered price for the company’s shares being on a correct level. Since the board of directors of Talentum did not recommend accepting the tender offer, the low acceptance rate was expected.

 

In accordance with the terms and conditions of the Tender Offer, the Tender Offer will be executed and the consideration will be paid to all Talentum shareholders having accepted the Tender Offer. The sale and purchase of the shares will be executed on or about 20 November 2009 at the latest and will be settled on or about 25 November 2009 at the latest.

 

The payment of the offer price for the shares will be deposited on the settlement date in the account connected to the shareholder’s book-entry account or, in the case of shareholders whose holdings are registered in the name of a nominee, in the bank account specified in the acceptance form. If the shareholder’s bank account is with a different banking institution than such shareholder’s book-entry account, the offer price will be on the shareholder’s bank account in accordance with the schedule for payment transactions between financial institutions, approximately on the second Finnish banking day following the payment.

 

Alma Media Corporation

Rauno Heinonen

Corporate Communications and IR

 

Additional information:

Kai Telanne, President and CEO, tel. +358 10 665 3500

 

DISTRIBUTION

NASDAQ OMX Helsinki

Main media

 

Alma Media in brief

 

Alma Media is a profitable and internationally expanding company that invests in the future of newspapers and online media. Its best known products are the Aamulehti, Iltalehti, Kauppalehti and Etuovi.com.

 

Net sales in 2008 totalled EUR 341 million and the operating margin was over 14%. The company’s share is listed in the Mid Cap segment of the NASDAQ OMX Helsinki. Please visit www.almamedia.com for further information.