Independent auditor sets OPA price for Media Capital at 72.5 cents | Average

The independent auditor has set the minimum consideration in the takeover offers (OPA) provisionally announced by Cofina and Pluris Investments on Media Capital at 72.5 cents per share, the CMVM announced today.

“(E) In our opinion, the value of Media Capital’s equity is EUR 61,313,995, which corresponds to approximately EUR 0.725 per share,” said the independent auditor’s report on the determination of the minimum remuneration listed by the Securities Market (CMVM).

The supervisory authority points out that with regard to the takeover offer made by Cofina, which was changed on August 12th last year, “the minimum compensation set in this way is higher than the amount offered by the owner of Correio da Manhã in the preliminary announcement” of EUR 0.415 per share The value of the consideration to be paid in connection with the aforementioned offer should be at least EUR 0.725 per share. “

Cofina’s offer relates, on the one hand, to the purchase of shares presented in the original preliminary announcement, ie 4,485,573 shares, which corresponds to 5.31% of the share capital.

“As a result of the change to the offer reviewed on August 12, 2020, 80,027,607 shares were also addressed, which corresponds to 94.69% of the target capital, unless the independent auditor specified any consideration for the unit value that exceeds the amount of EUR 0.415 per Share, ”remembers the CMVM.

Since this condition was not met, “Cofina will inform you within three days whether you intend to waive it or not”.

After Cofina’s takeover offer for the entire media capital on August 12, the audit committee was asked to appoint an independent auditor who would set the minimum remuneration.

With regard to the takeover offer initiated by Pluris Investments, businessman Mário Ferreira, which is mandatory and subject to the regime of competing offers, “the respective equivalent value should be 0.7395 euros per share, 2% higher than the value of the consideration given by the Cofinas OPA “, Emphasizes the CMVM.

The Securities Market Commission notes that “the process of registering the above tender offers is ongoing.”

On November 25, Pluris launched a general and mandatory takeover offer for 69.78% of the media capital, which, according to the preliminary announcement, should never be below 67 cents per share.

Last May, Pluris Investments bought 30.22% of the media capital for 10.5 million euros.

Mário Ferreira has been Chairman of the Board of Directors of the owner of TVI since November last year.

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