TVC Holdings PLC Partial Sale of Stake in UTV Media plc (0414B)

TIDMTVCH TIDMUTV

RNS Number : 0414B

TVC Holdings PLC

27 February 2014

TVC Holdings plc

('TVCH' or the 'Company')

TVC Holdings Announces Partial Sale of its Stake in UTV Media plc;

Recovers Full Cost of Original Investment

TVC Holdings plc, the investment holding company, today (Thursday, 27 February 2014) announced that it has disposed of 7.6 million shares in UTV Media plc ("UTV") for a total consideration of EUR22.1 million (GBP18.2 million).

TVC invested EUR27.3 million in 2008 to acquire an 18% shareholding in UTV. The above share sale, including dividends received to date, has enabled TVC to recover the full cost of its entire UTV investment.

Following this sale, TVC still holds 9,640,262 shares in UTV representing a shareholding of 10.05%. TVC's remaining shareholding in UTV is valued at EUR29.2 million (GBP24.0 million), based on UTV's closing share price on 26 February 2014, which, on the above basis, has a nil residual cost.

Contact information:

TVC Holdings plc

Shane Reihill, Executive Chairman

John Tracey, Chief Executive Officer

Tel: +353-1-205 7700

Davy

John Frain

Tel: + 353-1-679 6363

Murray Consultants

Pauline McAlester

Tel: +353-1-498 0300

This information is provided by RNS