This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Central European Media Enterprises Ltd. Announces Commencement Of Rights Offering

HAMILTON, Bermuda, April 3, 2014 (GLOBE NEWSWIRE) -- Central European Media Enterprises Ltd. (" CME") (Nasdaq:CETV) (Prague Stock Exchange:CETV) announced today the commencement of the subscription period (the " Subscription Period") for its previously-announced fully-backstopped $341.8 million rights offering (the " Rights Offering"). The Subscription Period commences today, April 3, 2014 and will end at 5:00 p.m., New York City time, on April 25, 2014, unless the Subscription Period is extended by CME. Under the terms of the Rights Offering, CME will distribute one (1) right (each, a " Right") for every 62.0102 outstanding shares of its Class A Common Stock and every 62.0102 shares of Class A Common Stock issuable upon conversion of its outstanding share of Series A Convertible Preferred Stock (" Series A Preferred Stock") and/or its outstanding shares of Series B Convertible Redeemable Preferred Stock (" Series B Preferred Stock") (calculated as of December 25, 2013).  As previously announced, CME fixed 5:00 p.m., New York City time, on March 21, 2014 as the record date for determining the holders of shares of Class A Common Stock, Series A Preferred Stock and Series B Preferred Stock. Each Right will entitle the holder thereof to purchase, at the holder's election and subject to the satisfaction of a minimum subscription amount, at the subscription price of one hundred dollars ($100.00), one (1) unit (each, a " Unit"), consisting of (a) a 15.0% Senior Secured Note due 2017 in the original principal amount of $100.00 and (b) 21 unit warrants (each, a " Unit Warrant"), with each Unit Warrant entitling the holder thereof to purchase one share of CME's Class A Common Stock at an exercise price of $1.00 per share.

A registration statement with respect to the Rights, the Units to be issued upon exercise of the Rights and the notes and Unit Warrants underlying the Units, and shares of Class A Common Stock issuable upon exercise of the Unit Warrants has been declared effective by the Securities and Exchange Commission (the " SEC"). Before you participate in the Rights Offering, you should read the prospectus in that registration statement and other documents CME has filed with the SEC for more complete information about CME and the Rights Offering. You may get these documents for free by visiting the SEC's website at . The amended registration statement (which includes a copy of the most recent prospectus) can be accessed on CME's website at The Rights Offering may be made only by means of a prospectus, copies of which may be obtained from the subscription and information agent, Broadridge Corporate Issuer Solutions, Inc. at +1 (855) 793-5068 (toll-free). Before participating in the Rights Offering, shareholders in the Czech Republic should read the prospectus approved by a decision of the Czech National Bank on March 26, 2014, Ref. 2014/3129/570, Sp. zn. Sp/2014/11/ for more complete information about CME and the Rights Offering.  This Press Release does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein, and there shall not be any offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

J.P. Morgan is acting as dealer manager in connection with holders' exercise of the Rights in exchange for the Units in the United States of America and certain other jurisdictions other than the Czech Republic.  As disclosed in the prospectus, J.P. Morgan will receive up to $1,750,000 in fees for acting as dealer manager. CME will also reimburse J.P. Morgan for fees and expenses of its legal counsel incurred in connection with its role as dealer manager in an amount up to $600,000. In addition, CME will pay J.P. Morgan a financial advisory fee of up to $1,500,000 and reimburse them for up to $50,000 for fees and expenses incurred in connection with the provision of certain structuring advice.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs