07:00 Thu 08 Oct 2020
Zegona Comm PLC - ZEGONA'S MARKET VALUE PER SHARE
NOT FOR DISTRIBUTION, PUBLICATION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM
ZEGONA COMMUNICATIONS PLC ("Zegona")
LEI: 213800ASI1VZL2ED4S65
ZEGONA'S ASSETS HAve A MARKET VALUE OF
Zegona's principal asset is its ownership of Euskaltel, where it is the largest shareholder owning 21.44%. Euskaltel is the leading quad-play telecommunications provider in the North of
Zegona believes it is helpful for its shareholders to be aware of the development in the value of Euskaltel, and to understand what this represents in terms of value per Zegona share and how this compares to the Zegona market value. This is especially the case since Zegona no longer accounts for its investment in Euskaltel at fair value.
At the Euskaltel share price of
Zegona's Board monitors this metric on an ongoing basis and is determined to take actions with the objective to close this differential. Zegona intends to update its shareholders regularly on the value of its ownership in Euskaltel.
1 Assets comprising Zegona's ownership stake in Euskaltel, S.A. and net cash position as at 30th
2 The value of Zegona's Main Assets per share is a computation of the Sterling equivalent of the fair value of Zegona's investment in Euskaltel, its cash and cash equivalents net of its bank borrowings, divided by the total number of shares outstanding translated using the prevailing £/€ exchange rate of 1.09829. Other assets and liabilities are not included in the calculation but have historically not been material with the exception of the contingent consideration receivable from the sale of Telecable which had a fair value of
3 Zegona's closing share price on 30th
ENQUIRIES
Tavistock (Public Relations adviser)
Tel: +44 (0)20 7920 3150
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