19
July
2007
|
00:00
Europe/Amsterdam

TMG obtains two Boardseats at ProSiebenSat.1

During the Annual Meeting of Shareholders of ProSiebenSat.1 Media AG (ProSiebenSat.1) A.J.Swartjes, CEO of TMG (Telegraaf Media Groep) and M.M.P. van Lent, President International of TMG have been elected members of the Supervisory Board of ProSiebenSat.1, the recently formed combination of ProSiebenSat.1 and SBS Broadcasting S.à.r.l.

 
As stated last month, TMG has the option to acquire 12% (13,127,832) of the voting shares in ProSiebenSat.1, at a price of € 34.71 per share minus dividends payable in the period between 6 March 2007 and the exercise date of the option, 1 June 2008. Also it was announced last month, that efforts will be made to complement the knowledge and experience of the existing Supervisory Board of ProSiebenSat.1 with the expertise of TMG by appointing two senior TMG executives.
 
During the Annual Meeting, the proposed fiscal year 2006 dividend distribution of € 0.87 per voting share was approved.