DGAP-Adhoc: RNTS Media N.V.: RNTS Media N.V. Experiences Funding Difficulties Closing of Inneractive Acquisition Requires Funding Within the Next Days (Update of Ad-hoc Announcement of March 3, 2016)


RNTS Media N.V.  / Key word(s): Funds/Mergers & Acquisitions

31.05.2016 21:27

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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RNTS Media N.V. ("RNTS Media") experiences difficulties in securing the
necessary financing for the closing of the acquisition of Inneractive Ltd.
(Israel) ("Inneractive") (see announcement of March 3, 2016). Although the
current tap issue of EUR50m of convertible bonds had been fully subscribed,
the subscribers have not settled their commitments by 31 May 2016. Proceeds
from the bonds placement had been earmarked for payment of the purchase
price for the shares in Inneractive. Alternative funding through existing
credit lines and remaining proceeds of the initial 2015 convertible bonds
placement could also not be applied to close the transaction by 31 May
2016. The contractual time window for the closing of the Inneractive
acquisition expires on 5 June 2016. The management of RNTS Media is
continuing to pursue all available funding options, including the
settlement of the EUR50m convertible bond already placed. However, the
closing of the acquisition of Inneractive is considered to be at risk.

Investor Contact:
Heiner Luntz
ir@rntsmedia.com
+49 30 609 855 555

Media Contact:
Natalia Sandin
natalia.sandin@fyber.com
+1 650 201 8814


31.05.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap.de

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Language:     English
Company:      RNTS Media N.V.
              Johannisstr. 20
              10117 Berlin
              Germany
Phone:        +49 30 609 855 528
Fax:          
E-mail:       governance@rntsmedia.com
Internet:     www.rntsmedia.com
ISIN:         NL0010315453
WKN:          A1J87D
Listed:       Regulated Market in Frankfurt (Prime Standard)
 
End of Announcement                             DGAP News-Service
 
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