2waytraffic listed on the Alternative Investment Market of the London Stock Exchange in April 2006. At the time of listing, 20,984,914 ordinary shares were placed at a price of 116 pence per share.
In December 2006 2waytraffic successfully acquired the companies which own the business, assets and rights to the internationally renowned sustainable format, Who Wants To Be A Millionaire?, for an initial consideration of £106 million, financed by £60 million term loan facility from RBS, £10 million of the Company’s existing cash resources, £6 million of consideration shares and the balance (including fees) through a £37 million Placing fully underwritten by Investec.
In March 2008, 2JS Productions, a wholly-owned group company of Sony Pictures Entertainment Inc, and 2waytraffic announced that they had agreed the terms of a proposed recommended cash offer for the entire issued ordinary share capital of 2waytraffic by 2JS Productions, for 108 pence per share.
2JS Productions’ offer and the Sale and Purchase Agreement together valued the entire issued ordinary share capital of 2waytraffic at up to £137.5 million.
In June 2008, 2JS Productions announced that all of the conditions of its Offer for 2waytraffic had been satisfied and the Offer was declared unconditional in all respects.
Following the completion of 2JS Productions’ acquisition of the company, 2waytraffic's listing on the AIM market at the London Stock Exchange was cancelled on 1 July 2008.
2waytraffic is now a wholly owned subsidiary of Sony Pictures Entertainment.
For further information please contact Jeroen Tielens on jeroen.tielens@2waytraffic.com.
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