Investor Relations
News Detail

16th May 2003

Recapitalisation update: Rights Issue and New Zealand Share Issue

Independent News & Media PLC [‘INM’] today announced two transactions, confirming further progress on its recapitalisation programme announced on 26th March 2003.

At that time, INM announced a series of transformative steps designed to recapitalise the Group’s balance sheet and better position the Group going forward.

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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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