RB nr 67/2007
Komisja Nadzoru FinasowegoLegal basis: Art. 56 subpar. 1 pt. 1 of the Act on Public Offering
The Management Board of MCI Management SA informs that on September 13, 2007 the fund signed an agreement of sale of shares in Telecom Media Sp. z o.o. (âCompanyâ) with the Brokerage House of Bank Ochrony Ĺrodowiska SA. Under the agreement MCI Management SA sold 88 shares in the Company at PLN 23,000.00 per 1 share that is for the total amount of PLN 2,024,000.00. The shares which were the object of the transaction represent 12.68% in the share capital of the Company. The transaction is the effect of the profound changes in the shareholding structure of the Company which resulted in MCI Management SA increasing its engagement in the share capital of Telecom Media and after the transaction holds 441 shares representing 63,54% of the share capital of the Company.
In the previous transactions the fund acquired in total 355 shares from BBI Capital SA, about which the Management Board informed in its current reports no. 51/2007 and 61/2007. The transaction made with the participation of the Brokerage House of Bank Ochrony Ĺrodowiska SA was a pre-IPO investment. The parties agreed that they will take steps in order to introduce the Company on the Warsaw Stock Exchange by the end of 2009, however, it is likely to happen earlier.
Telecom Media is one of the leading distributor of the entertainment content mobile, including wallpapers, ring tones and Java games for mobile telephones in the Polish market. At present the Company\”s basic channel of sales is the whole-page announcements in color magazines with information about products and individual product codes. They are purchased by sending the appropriate code through Premium Rate SMS. The Company also conducts sale over the Internet. The Company was also first in Poland to begin selling of advertisements in SMS which was carried out under the brand of Spotler. The Management Board of the Company expects that within the medium term the revenues from mobile advertising shall become a significant source of its revenues.