Media Nusantara releases preliminary results of its tender offer for Linktone

By Lisa Kerner

Charlotte, N.C., March 27 - PT Media Nusantara Citra Tbk and MNC International Ltd., a Media Nusantara indirect wholly owned subsidiary, announced the preliminary results of their cash partial tender offer for Linktone Ltd. that ended Wednesday.

The depositary for the tender offer reported that 15,484,603 American Depositary Shares and 11,780 ordinary shares, including 810,643 ADSs tendered under guaranteed delivery procedures, were validly tendered and not withdrawn, according to a Media Nusantara news release.

Media Nusantara said the resulting estimated proration factor is 38.7% of the ADSs and ordinary shares tendered.

It was previously reported that each ADS represents 10 ordinary shares.

MNC International intends to complete a subscription for 180 million newly issued ordinary shares of Linktone on April 3 under Media Nusantara's agreement with Linktone, the release said.

As a result, MNC International said it expects to hold some 57.1% of Linktone's total outstanding ordinary shares, calculated on a fully diluted basis.

In February, Media Nusantara extended its tender offer for Linktone to midnight ET on March 26 from March 12.

Media Nusantara Citra, an integrated media company based in Jakarta, Indonesia, said it will finance the purchase using its available cash and cash equivalents.

Linktone is a wireless interactive entertainment services provide located in Shanghai.

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