Source - RNS
RNS Number : 0618X
Zegona Communications PLC
17 December 2019
 

NOT FOR DISTRIBUTION, PUBLICATION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OR CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE UNITED KINGDOM AND SPAIN) OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION, PUBLICATION OR RELEASE WOULD BE UNLAWFUL.

 

 

ZEGONA COMMUNICATIONS PLC ("Zegona")

 

LEI: 213800ASI1VZL2ED4S65

 

17 December 2019

 

FIDELITY takes 8% shareholding in zegona

 

Following Zegona's announcement on 2nd December that its stake in Euskaltel S.A. and net cash balance had a value of £1.41 per share, which was 46% higher than its share price on that date1, Zegona is pleased to announce that Fidelity Management & Research ("FMR") joins its other leading global investors with a shareholding of almost 8%.

 

Eamonn O'Hare, Chairman and CEO of Zegona, commented: "I am delighted that FMR has chosen to invest in Zegona at this time. We see strong potential for Zegona both through the inherent value of our core asset and through the positive change and renewed ambition which José Miguel García and his team are bringing to the Euskaltel business. We look forward to working on behalf of FMR and our other leading global investors to deliver long term shareholder value."

 

Enquiries

 

Tavistock (Public Relations adviser)

Tel: +44 (0)20 7920 3150

Lulu Bridges - [email protected] 

Jos Simson - [email protected]

 

IMPORTANT NOTICES

This announcement has been prepared in accordance with English law, the Listing Rules and the Disclosure Guidance and Transparency Rules and information disclosed may not be the same as that which would have been prepared in accordance with the laws of jurisdictions outside England.

The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions.  Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

 

 

 

 

 

About Zegona

 

Zegona was established in 2015 with the objective of investing in businesses in the European Telecommunications, Media and Technology sector and improving their performance to deliver attractive shareholder returns. Zegona is listed on the standard listing segment of the Official List of the Financial Conduct Authority and the Main Market for listed securities of the London Stock Exchange, and is led by former Virgin Media executives Eamonn O'Hare and Robert Samuelson. Zegona is the largest shareholder of Euskaltel S.A. owning over 20%.

 

As at 16 December 2019, reflecting all TR-1 notifications received to date, Zegona was aware of the following shareholders holding more than 3 percent of the total voting rights of Zegona:

 

 

Percentage of Issued Share Capital

Marwyn Asset Management

18.95%

Artemis Investment Management

16.31%

Canaccord Genuity Group Inc

9.48%

Fidelity Investments Limited (FIL)

8.86%

Capital Research & Management Company

7.99%

Fidelity Management & Research (FMR)

7.76%

Invesco Asset Management

7.36%

Legal & General Investment Management

5.86%

AXA Investment Managers

3.66%

 

 

 

 

About Euskaltel

 

Euskaltel is the leading quad-play telecommunications provider in the North of Spain, with a network covering nearly 2.3 million households. It provides high speed broadband, data rich mobile, advanced TV and fixed communications services to residential and business customers under the Euskaltel, R Cable and Telecable brands. Euskaltel is a public company actively traded on the stock markets of Bilbao, Madrid, Barcelona and Valencia.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1                     As at 29th November 2019. As at 13th December 2019, the value of Zegona's investment in Euskaltel and net cash balance was £1.37 per share which was 25% higher than its share price of £1.095 per share on that date.

                       

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
MSCVQLFFKLFXFBB
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.