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KUDELSKI GROUP ISSUES LETTER.......

1. [verwijderd] 30 oktober 2009 09:18

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   KUDELSKI GROUP ISSUES LETTER TO OPENTV SHAREHOLDERS
   
   Encourages OpenTV Shareholders to Act Before November 6 Expiration of Premium US$1.55 Per Share Cash Tender Offer
   
   Cheseaux, Switzerland – October 30, 2009 - The Kudelski Group (SIX: KUD.VX) today issued a letter to OpenTV Corp. (NASDAQ: OPTV) shareholders regarding the tender offer commenced by Kudelski on October 5, 2009 to acquire all outstanding Class A shares of OpenTV not already owned by Kudelski or its subsidiaries for US$1.55 per share in cash, implying a total equity value of at least US$215 million1. The text of the letter is available now at www.opentvvalue.com and is being mailed to OpenTV shareholders.
   
   Kudelski today also announced that it has eliminated the condition to its obligation to accept shares in the tender offer relating to the receipt of sufficient proceeds under the credit facility described in its offer to purchase included as an exhibit to the Schedule TO filed with the SEC. Kudelski has sufficient cash and borrowings available under such credit facility to purchase all OpenTV shares subject to the tender offer and to pay all related fees and expenses.
   
   
   
   1. Based upon valuing the aggregate Class A and Class B shares at the $1.55 per share offer price. Does not reflect any premium that would be associated with the higher voting Class B shares.