FUTURE NETWORK PLC
5 October 1999
Not for release or distribution in or into the United
States of America, Canada, Japan or Australia
COMPLETION OF SECONDARY OFFERING OF SHARES IN THE FUTURE NETWORK PLC
Morgan Stanley International ('Morgan Stanley') as Bookrunner, announces that it
has successfully completed the secondary offering of shares in The Future
Network plc ('Future'), the video games, home computing and other specialist
consumer magazines publisher, announced yesterday afternoon.
18 million ordinary shares ('the secondary offering') were placed with
institutional investors at a price of 620p per share. As a consequence of the
placing, funds managed and advised by Apax Partners & Co. Ventures Ltd together
with certain other investors now hold a 14.1% shareholding in Future. None of
the executive directors participated in the secondary offering.
For further information:
John Hyman, Executive Director Tel: 0171 425 8000
Morgan Stanley International
James Longfield Tel: 0171 357 9477
Hogarth Partnership
Background on the Future Network:
The Future Network was founded in the UK in 1985. Since this time it has become
the leading publisher of video games and home computing magazines in the UK,
France, Italy and the US. Headquartered in Bath, England, Future is the fourth
largest publisher in the UK. It employs over 1,400 people in offices in Bath,
London, San Francisco, New York, Paris, Milan and Munich. Future publishes 112
magazines worldwide and has extensive online activities generating over 50
million page views per month. Future was floated on the London Stock Exchange in
June 1999 and has a current market capitalisation of over £850 million.
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