TVC Holdings increases its shareholding in UTV Media plc to 18%

TVC Holdings plc, the publicly quoted investment holding company, today (Tuesday, 11 November 2008) announced that it has acquired an additional 3% shareholding in UTV Media plc (“UTV”), for a total consideration of £2.2m (€2.7m). This additional investment brings TVC’s aggregate shareholding to 18%. This investment follows TVC’s announcement in July 2008 that it had acquired a shareholding of 15% in UTV, becoming the largest single shareholder in UTV. Shane Reihill, Executive Chairman of TVC Holdings, was appointed to the board of UTV on 10 September 2008.

This investment reflects TVC Holdings’ stated investment strategy of acquiring significant stakes in both public and private companies across a range of sectors, principally in the UK and Ireland. TVC’s existing portfolio also includes the publicly quoted company, Norkom Group plc, and the Maldron hotel chain, led by Pat McCann, ex CEO of Jurys Doyle Group plc.