TVa Group Inc. Increases Number of Shares That it Is Offering to Repurchase Under its Substantial Issuer Bid
15 May 2008 - 4:21AM
Marketwired
MONTREAL, CANADA today announced that it has increased the
number of participating Class B non-voting shares (the Class B
Shares) that it is offering to repurchase under its offer to
purchase Class B Shares from 2,000,000 to 3,000,000 Class B Shares.
TVA Group also announced that the offer, which was previously
scheduled to expire at 8:00 p.m. (Montreal time), on May 14, 2008,
has been extended to, and will now expire at 8:00 p.m. (Montreal
time), on June 2, 2008, unless the offer is extended further, in
accordance with the other terms set forth in the original offer
dated April 1, 2008.
TVA Group will be mailing a Notice of Variation and Extension to
all holders of Class B Shares in connection with the variation and
extension of the offer. Except for the increase in the number of
Class B Shares to be repurchased and the extension of the
expiration date of the offer, the terms previously set forth in the
original offer dated April 1, 2008 continue to be applicable in all
respects. In addition, TVA Group will be waiving, effective at 8:00
p.m. (Montreal time), on May 14, 2008, all conditions set forth in
Section 5 of its original offer to purchase dated April 1,
2008.
As at 12:00 p.m. (Montreal time) today, based on interim reports
provided by the depositary for the offer, a total of 7,423,234
Class B Shares had been deposited pursuant to the offer up to such
time. Shareholders should note that TVA Group will not be taking up
the Class B Shares so deposited prior to the extended expiration
time of the offer at 8:00 p.m. (Montreal time), on June 2, 2008 and
that, prior to such time, any shares so deposited may be withdrawn.
TVA Group will only be in a position to announce the final
proration factor, if any, and the exact number of Class B Shares to
be taken up under the offer on or immediately after the extended
expiration date.
TVA Group Inc., a subsidiary of Quebecor Media Inc., is an
integrated communications company involved in television, the
production and distribution of audiovisual products, and in
magazine publishing. TVA Group is one of the largest private sector
producers and the largest private sector broadcaster of
French-language entertainment, information and public affairs
programming, and magazine publishing in North America. TVA also
operates SUN TV, a general-interest station in Toronto. The
Company's Class B Shares are listed on the Toronto Stock Exchange
under the ticker symbol "TVA.B".
Contacts: TVA Group Inc. Denis Rozon, CA Vice-President and
Chief Financial Officer 514-598-2808 www.tva.canoe.ca
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