OREANDA-NEWS. November 16, 2009. The ProfMedia group acting through its holding company PM Invest Company Limited (“ProfMedia”) today launches a reverse accelerated bookbuild (“reverse ABB”) to purchase shares in Rambler Media Limited (RMG.LN, “Rambler”), the Russian based internet media and services group.

Following acquisition of majority stake in December 2006, ProfMedia became a majority shareholder of Rambler and currently owns 54.54% of its shares. ProfMedia is one of the largest media and entertainment groups in Russia with internet activities being one of its key lines of business. It is ProfMedia’s intention to explore this business area through further consolidation of Rambler. ProfMedia believes that both it and Rambler will benefit from strategic advantages resulting from consolidation. 

Following the completion of the reverse ABB, ProfMedia may consider de-listing Rambler from the AIM Market of the London Stock Exchange (“AIM”). Should Rambler delist, the remaining Rambler’s shareholders will become minority shareholders in a privately controlled unlisted company. This would significantly reduce the liquidity and marketability of Rambler’s shares. Therefore, ProfMedia strongly encourages shareholders to participate in the reverse ABB.

ING is acting as the Company’s broker for the purchase of Rambler’s shares.