SHAREHOLDERS PROPOSE RE-ELECTION OF PELLE TÖRNBERG AS NON-EXECUTIVE DIRECTOR
On behalf of the Nomination Committee of major shareholders of Modern Times Group MTG AB (publ.) (‘MTG’ or ‘the Group’), MTG today announced that shareholders representing more than 50% of the votes in the Group, including Emesco AB and Investment AB Kinnevik, will propose the re-election of Pelle Törnberg as a non-executive Director of MTG at the 2007 Annual General Meeting of shareholders.
Pelle Törnberg has served as President and CEO of international free newspaper company Metro International S.A. since its demerger from MTG in 2000. Pelle headed up all the media companies within Investment AB Kinnevik from 1993, before becoming President and CEO of MTG upon its demerger from Kinnevik in 1997. Pelle has served as a non-executive Director of MTG since 2000 and is also a non-executive Director of RNB Retail and Brands AB and the Swedish American Chamber of Commerce.
The Nomination Committee will submit its full proposal for the 2007 Annual General Meeting in the notices to the Meeting.
Modern Times Group is an international entertainment broadcasting group with operations in more than 30 countries around the world. MTG is the largest Free-to-air and Pay-TV operator in Scandinavia and the Baltics, the largest shareholder in Russia’s largest independent television network, and the number one commercial radio operator in the Nordic region. The Viasat DTH satellite TV platform offers digital multi-channel TV packages of 50 own-produced and third party entertainment channels. Viasat TV channels now reach over 90 million people every day in 22 countries across Europe.
Modern Times Group MTG AB class A and B shares are listed on the Nordic Stock Exchange Large Cap list under the symbols ‘MTGA’ and ‘MTGB’.