Reverse stock split
On April 8, 2010 The Shareholders’ Meeting approved a reverse stock split at a ratio of one ordinary/savings share for every 10 ordinary/savings shares Held. The transaction has been made effective since April 19, 2010.
For example, if, before April 19th, the Shareholder had in its portfolio 2,000 Telecom Italia Media Ordinary or Savings shares, at a price of 0,10 euro, for a total investment of 200 euro, after April 19th the same Shareholder will have 200 Telecom Italia Media Ordinary or Savings shares, at a price of 1 euro, for the same total investment of 200 euro.
In order to facilitate the implementation of the reverse shares split process, TI Media has charged Banca IMI S.p.A. to make its best effort, acting upon request of each intermediary, to sale and the purchase the minimum non-groupable share fractions that may be necessary to permit ownership of a number of old ordinary and/or savings shares equal to 10 or a multiple thereof.
The abovementioned sale and purchase transactions may be carried out from April 19, 2010 until April 30, 2010 on the basis of the official price of the ordinary and savings TI Media shares recorded on the trading day preceding the day of the reverse split transaction (and therefore on the basis of the official price recorded on April 16, 2010).
Shareholders will not incur any charges for incidental expenses related to the buy sale and purchase transactions referred to above.
Press Release: reverse split of ordinary and savings shares (47 Kb)
Notice to Shareholders: reverse split of ordinary and savings shares (27 Kb)