Investor Relations
News Detail
Disposal of Partial Holding in Jagran Prakashan Limited
Dublin/London – 2nd July 2009: Independent News & Media PLC (“INM” or “the Company”) announces that it has sold 22 million ordinary shares in Jagran Prakashan Limited (“JPL”) on the Bombay and National Stock Exchanges in India.
This sale represents approximately 7.3% of the issued share capital of JPL and reduces INM’s holding in JPL to 13.5% (previously 20.8%). Having originally invested €28.5 million to acquire its stake in 2005, following this share sale, INM’s remaining holding in JPL is worth c. €42 million at current market price.