Hungary’s Magyar Telecom asks unitholders to extend stapling

New York, Nov. 28 – Magyar Telecom BV and Matel Holdings Ltd. are soliciting consents from holders of their 150,051,000 units made up of shares issued by Matel Holdings and notes issued by Magyar Telecom in order to extend the stapling together of the shares and notes for an additional year.

The stapling was previously extended in October 2015 and the issuers are now asking to prolong the coupling of the notes and shares to Dec. 12, 2017 from the current expiration of Dec. 12, 2016.

If specified de-stapling events occur before the deadline, then the shares and notes will become separately transferable, as at present.

The issuers are also asking holders of the units to approve other “technical changes” required to implement a previously approved incentive structure.

No consent fee will be paid.

The changes are being made under a written procedure. Consents or objections must be delivered by 10 a.m. ET on Dec. 5.

The tabulation agent is Lucid Issuer Services Ltd. (+44 20 7704 0880 or invitel@lucid-is.com).

Based in Budapest, Magyar Telecom offers telecommunications services to residential and business customers.

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