Matomy series A bondholders to vote on contingent demand on Oct. 2

By Caroline Salls

Pittsburgh, Sept. 24 – Matomy Media Group Ltd. announced Tuesday that the trustee for its series A bondholders will hold a meeting, at the request of a few bondholders, on Oct. 2 to vote on a contingent demand for immediate repayment of the bonds.

According to the news release, the trustee will demand an immediate and full repayment of the bonds unless Matomy signs a binding share purchase agreement by Nov. 6 to sell its 90% share in Team Internet AG for a purchase price sufficient to repay the bonds and related interest in full.

Matomy said its officers have been working in the past few months to sell the Team Internet Holdings to enable the company to fully repay its debt to its bondholders.

The company said it believes a unilateral decision to demand an immediate repayment of the bonds may significantly hurt its chances to complete a sale, and in particular the chances of receiving a consideration that would allow full repayment of the bonds.

Matomy Media Group is a Tel Aviv-based global media company.

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