BUSINESS WIRE - June 23 - The
Match.com group owns indirectly through Match.com Pegasus Limited a 26.51% interest in
Meetic and a 50% interest in a venture with Meetic providing online personals services in certain countries in Latin America. This transaction will offer Match.com and Meetic new growth opportunities. On May 29, 2011, Marc Simoncini entered into a binding agreement with Match.com Pegasus Limited to tender in the Offer 3,667,773 Company Shares, representing 15.96% of the total number of shares outstanding. On May 30, 2011, Match.com announced its proposed tender offer for Meetic. Under the terms of this agreement, Simoncini will resign from his current position as Chairman of the board of directors and CEO of Meetic, but not from his position as a member of the board.
An indicative timetable is set forth below:
June 22, 2011 Filing of the proposed Offer with the AMF
June 23, 2011 Filing by the Company of the response offer document
July 5, 2011 Clearance decision (Déclaration de conformité)
July 7, 2011 Opening of the Offer
August 10, 2011 Closing of the Offer
August 18, 2011 Publication of notice announcing the final results of
the Offer
August 19, 2011 Reopening of the Offer (in the event the Offer is
successful)
August 29, 2011 Settlement – Delivery of the initial Offer
September 1, 2011 Closing of the reopened Offer
September 8, 2011 Publication of notice announcing the final results of
the reopened Offer
September 19, 2011 Settlement - Delivery of the reopened Offer
The total cash consideration to be paid by the Offeror would amount to ~225M Eur. The Offer will be fully funded by IAC funds.
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