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Cablevision Holding (CVH)

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Friday 13 December, 2019

Cablevision Holding

Release of Pledge and Response to Claim

RNS Number : 8782W
Cablevision Holding S.A.
13 December 2019
 

 

 

CABLEVISIÓN HOLDING S.A.

Release of the pledge and Company Responds to shareholder Claim

 

On 12 December 2019, Cablevisión Holding S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that, following up on its communication of 28 October 2019, as a result of the prepayment of the balance of its USD 750,000,000 Aggregate Principal Amount Loan Agreement dated as of 24 September 2017 with Citibank, N.A., Goldman Sachs Bank USA, Industrial and Commercial Bank of China Limited, Dubai (DIFC) Branch, Itaú Unibanco S.A., Nassau Branch as Lenders, Citibank, NA (Administrative Agent and Offshore Collateral Agent) and the branch of Citibank, NA established in the Republic of Argentina as Onshore Colletaral Agent (as amended on 20 March 2019),  the Collateral Agents, on behalf of the Lenders, released the first degree pledge created by the Company over 178,597,678 class D shares issued by Telecom Argentina S.A., owned by the Company, which release shall become effective as from its registration in the Shareholder Registry of Telecom Argentina S.A.

 

In addition, following up on the Company's communication of 26 November 2019, the Company informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that on 11 December 2019, the court resolved that the claim filed by one of the Company's shareholders, Mr. Daniel Burgueño, in re "Burgueño Daniel v. Executive Branch - Argentine Securities Commission on ordinary proceeding" (File No. 33763/2019) be deemed responded by the Company.  The claim seeks a declaration by the court that the Company is not under an obligation to launch a tender offer to acquire shares as a result of the change of control that occurred in Telecom Argentina S.A., pursuant to Resolution No. 779/2018 of the Argentine Securities Commission (especially Article 32(k)), which implements Law No. 26,831 (as amended by Law No. 27,440).  Said Resolution No. 779/2018 excludes companies from the obligation of launching a mandatory tender offer in certain cases of change of control that occur as a result of a merger, subject to certain conditions.  In its response to Mr. Burgueño's claim, the Company agreed with the interpretation made by Mr. Burgueño of applicable law.  As of the date hereof, these proceedings are still ongoing and subject to a decision by the applicable court.

 

Enquiries:

 

Mr. Agustín Medina Manson

Head of Investor Relations

 

Mr. Valentina López

Sr. Analyst of Investor Relations

 

www.cvh.com.ar

Email: [email protected]

Tel: (+54 11) 4309 - 3417

 

 


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