TRADER MEDIA EAST LIMITED Trader Media East Limited (TME) Board of Directors would like to inform that TME acquired additional USD 37,7 million intra-group loan from its parent company Hurriyet Invest B.V. (HIBV) on January 14, 2016, and transferred such fund to its direct Dutch subsidiary Mirabridge International B.V. (MIBV) to be used for the closure of existing bank debts in MIBV's direct Russian subsidiary Pronto Media Holding Limited (PMH). As a result, TME's indirect Russian subsidiary PMH closed all its bank debts as of January 15, 2016. Including previous debts acquired from HIBV, which was used both for the partial closure of the bank debts and working capital requirement of PMH in the past, as from January 15, 2016 TME's payable to HIBV reached to USD 84,1 million.
About Trader Media East
TME is the leading market place for communities of real estate, auto and recruitment with strong local brands, serving local markets in Russia, Kazakhstan and Belarus. TME produces 125 print titles with 0.8 million readers per month and hosts 11 websites with 18.7 million unique monthly visitors.
TME was founded in November 2005, and comprises the former operations of Trader Classified Media N.V. Currently, the Group employs 2,034 permanent employees in 3 countries.
TME's branded classified advertising websites and publications and related specialized services have leading positions in specific markets in the following countries: Belarus, Kazakhstan, and Russia.
Forward-Looking Statements
Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of Trader Media East or its officers with respect to various matters. When used in this document, the words "expects," "believes," "anticipates," "plans," "may," "will," "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcome to differ materially from those suggested by any such statements. Those factors include, but are not limited to, risks or uncertainties described in our publicly filed documents.
These forward-looking statements speak only as of the date of this document. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any forward-looking statement is based.
Investor Relations Contact Information
Mrs. İnci Sencan-Tarı Investor Relations Director Tel. : +90 212 449 65 54
E-mail: isencan@hurriyet.com.tr
Trader Media East Ltd. issued this content on 2016-01-18 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-18 13:55:02 UTC
Original Document: http://imagehk.hurriyet.com.tr/UserFiles/TME/pressreleases/2015/TME LSE Press Release for Financial Restructuring FINAL 18012016.pdf
