Private Media Group, Inc. Reports Acquisition of 6.9% of the Company's Outstanding Shares of Common Stock in a Series of Purchases by its Majority Shareholder
Barcelona, Spain, November 29 (ots/PRNewswire)
Private Media Group Inc. (Nasdaq: PRVT) announced today that its CEO, President, Chairman of the Board and majority shareholder, Mr. Berth Milton, has increased his holding of the Company's shares of common stock. Since September 15, 2007, Mr. Milton has acquired 3,655,000, or 6.9%, of the Company's outstanding shares of common stock in a series of purchases at an average price of US$3.26 per share. Following this US$11.9 million acquisition, Mr. Milton's beneficial ownership of the Company's common stock, as determined in accordance with rules of the U.S. Securities and Exchange Commission, is equal to 57.8%.
About Private Media Group
With its 40 year track record, NASDAQ listed Private Media Group is a brand-driven world leader in proprietary content delivery in its genre and distributes premium quality adult content globally via a wide range of platforms including; more than 783 million mobile telephone handsets, broadband Internet, television broadcasting, DVDs and Magazines. Private Media Group owns the worldwide rights to its extensive archive of top-quality content, and also licenses its Private and "Silver Girls" trademarks internationally for a range of luxury consumer products.
Disclaimer
This release contains, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company's current judgments of those issues. However, because those statements are forward-looking and apply to future events, they are subject to such risks and uncertainties, which could lead to results materially different than anticipated by the Company.
For further information please contact:
Johan Gillborg
Chief Financial Officer
Private Media Group
Tel +34-93-590-70-70
johan.gillborg@private.comWeb site: http://www.prvt.com
Contact:
Johan Gillborg, Chief Financial Officer of Private Media Group,
+34-93-590-70-70, johan.gillborg@private.com