TVN SA informs

The Management Board of TVN S.A. (the "Company") hereby informs that on October 2, 2014 the Company concluded an agreement on the disposal of the shares held by the Company in the limited liability company TVN DTH Holdings S.à r.l. (previously TVN DTH Holdings S.E.C.S. - limited partnership) with its registered office Luxembourg (the "Shares in DTH Holdings"). The Shares in DTH Holdings constitute 99.99% of the share capital of TVN DTH Holdings S.à r.l. and have a total nominal value of PLN 1,399,992,562.00 (one billion three hundred and ninety nine million nine hundred and ninety two thousand five hundred and sixty two zlotys). The disposal of the shares took place by way of their contribution in kind to the company TVN Media Sp. z o.o. with its registered office in Warsaw on the basis of an agreement on the transfer of the Shares in DTH Holdings (the "Agreement"). The sole shareholder of TVN Media sp. z o.o. is the Company, and four out of the five members of the management board of TVN Media sp. z o.o. are at the same time members of the Company's management board.In connection with the contribution of the Shares in DTH Holdings to cover the capital in the company TVN Media Sp. z o.o. their value has been specified at PLN 1,609,991,000.00 (one billion six hundred and nine million nine hundred and ninety one thousand zlotys) on the basis of the valuation of the assets of TVN DTH Holdings S.à r.l. made by an independent entity. The share capital of TVN Media sp. o.o. has been increased by the very same amount, and the Shares in DTH Holdings have been disclosed in the books of accounts of TVN Media sp. z o.o. according to the above-mentioned value. As a result of the Agreement, TVN Media Sp. z o.o. has become the sole shareholder of the company TVN DTH Holding S.à r.l.The company TVN DTH Holding S.à r.l. was created as a result of the transformation (change of the legal form) of the company TVN DTH Holding S.E.C.S., and its assets include 32% of the shares in ITI Neovision S.A., the operator of the satellite TV platform nc+. O The Company informed about the contribution in kind of the shares in ITI Neovision S.A. to TVN DTH Holding S.E.C.S. Spółka in current report RB 89/2014 dated 19 July 2014. Similarly as the transaction described in current report RB 89/2014, the transaction covered by this report is an element of the further restructuring of the TVN S.A. Capital Group which was initiated by the disposal shares in ITI Neovision Sp. z o.o. and in Grupa Onet.pl S.A.The value of the assets contributed to TVN Media sp. z o.o. exceeds 10% of the Company's equity, thus they have been deemed to constitute significant assets.

More information on page: biznes.pap.pl

kom espi zdz