Investor Relations
Corporate Governance
Metro International S.A. is a Luxembourg limited-liability company
Latest News
METRO COMPLETES REFINANCING
26 August 2003
Metro has also completed the conversion into equity of the SEK 1,151 million of interest bearing loans provided by Industriförvaltnings AB Kinnevik ("Kinnevik") and Modern Times Group MTG AB ("MTG"). The SEK 609 million of long term interest bearing debt due to Kinnevik has been converted into 47.1 million new class A shares and 115.2 million new class B shares, whilst the SEK 542 million of interest bearing debt and convertible bonds due to MTG have been converted into 51.1 million new class A shares and 93.6 million new class B shares.
The 207.5 million new class A shares and 208.8 million new class B shares issued under the rights issue and debt to equity conversion will be issued today and commence trading on the Stockholmsbörsen on 27 August 2003. Following this transaction, Metro's issued share capital comprises 263 million class A shares and 262 million class B shares. Kinnevik holds 79.9 million class A shares and 116.1 million class B shares, equivalent to 37.3% of the share capital and 30.3% of the voting rights. MTG holds 52.3 million class A shares and 96.9 million class B shares, equivalent to 28.4% of the share capital and 19.9% of the voting rights.
Pelle Törnberg, President and CEO, commented: "Based on the now completed refinancing, Metro's last reported balance sheet as at 30 June 2003 would have shown a net cash position and positive shareholders' equity on a pro forma basis. This follows on a strong set of results for the second quarter, in which the group reported the first combined operating breakeven for the 24 Metro newspaper editions around the world".
For further information, please visit www.metro.lu, email info@metro.lu or contact:Pelle Törnberg, President & CEO tel: +44 (0) 20 7016 1300Matthew Hooper, Investor & Press Relations tel: +44 (0) 20 7321 5010
NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA OR JAPANTHESE MATERIALS ARE NOT AN OFFER FOR SALE OF THE SHARES IN THE UNITED STATES. THE SHARES MAY NOT BE SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED. METRO INTERNATIONAL S.A. DOES NOT INTEND TO REGISTER ANY PORTION OF THE OFFERING IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING OF SHARES IN THE UNITED STATES.