Investor Relations
News Detail

2nd Jul 2009

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.

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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
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