Investor Relations
News Detail

13th Aug 2003

Australian subsiduary announces successful oversubscribed placement of ordinary shares

Independent News & Media PLC's ("INM") 40.7% owned Australian subsidiary, APN News & Media Limited, today announced that it has successfully completed the placement of 28 million new ordinary shares at a final price of A$3.68 per share, raising gross proceeds of approximately A$103 million (.59.8 million).

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“Independent News & Media has always understood that beyond being a very successful company in the financial sense, it has broader social responsibilities to all those communities where it operates. This is demonstrated by over 200 projects and charities which the company has underwritten and supported and can be seen from the work that INM has done in education, particularly the work they’ve done in health education in South Africa in relation to HIV and AIDS.”

Baroness Margaret Jay, Non-Executive Director