April 13, 2017 / 5:47 PM / in 3 months

BRIEF-Reworld Media announces its project of merger-absorption of Sporever

1 Min Read

April 13 (Reuters) - Reworld Media SA:

* Announces its project of merger-absorption of Sporever SA

* Transaction was subject of a merger agreement signed on April 13, 2017

* Boards of directors of Sporever and Reworld Media met on April 11, 2017 and approved terms of merger-absorbtion

* Merger ratio to be set at 0.5 Reworld Media shares for 1 Sporever share (price of 3 euros ($3.2) per share for Reworld Media and € 1.5 per share for Sporever)

* The merger would have a retroactive effect on the accounting and fiscal plan as of January 1, 2017

* Share capital of Reworld Media would thus be composed of 34,612,958 shares in total at the end of the operation Source text: bit.ly/2ow2XvW Further company coverage: ($1 = 0.9418 euros) (Gdynia Newsroom)

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