-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CpjMs6PPyhEOZNwkylKL2JKWyHrEtATNPHckXSKFAn+f4JcxstsXiq2hDiNzhDva ONVKMfQDBVNvVYm4q618Ng== 0000895345-04-000512.txt : 20040716 0000895345-04-000512.hdr.sgml : 20040716 20040716140528 ACCESSION NUMBER: 0000895345-04-000512 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040716 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040716 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TELEWEST GLOBAL INC CENTRAL INDEX KEY: 0001270400 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-110815 FILM NUMBER: 04917774 BUSINESS ADDRESS: STREET 1: C/O CT CORPORATION SYSTEM STREET 2: 1209 ORANGE STREET CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: 442072995096 8-K 1 tp8k4.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 16, 2004 TELEWEST GLOBAL, INC. (Exact name of registrant as specified in its charter) Delaware 333-110815 59-3778247 (State of (Commission File Number) (IRS Employer incorporation) Identification No.) 160 Great Portland Street London W1W 5QA, United Kingdom ------------------------------------------ (Address of principal executive offices) (zip code) Registrant's telephone number, including area code: +44-20-7299-5000 ITEM 5. OTHER EVENTS On July 16, 2004 Telewest Communications plc ("Telewest") issued a press release announcing that the "bar dates" for the schemes of arrangement (the "Schemes") comprising part of its financial restructuring have passed. With the passage of the bar dates, the Schemes are closed to claims for which no notice has been received and Telewest will proceed with the distribution of the common stock of Telewest Global, Inc. ("Telewest Global") to its creditors and shareholders. Trading in Telewest Global's common stock on the Nasdaq National Market will commence on 19 July 2004 under the symbol "TLWT". A copy of that press release is attached hereto as Exhibit 99.1. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS Exhibit No. Description - ----------- ----------- 99.1 Press release of Telewest Communications plc announcing passage of bar dates and details of distribution of Telewest Global, Inc. common stock, dated July 16, 2004. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. TELEWEST GLOBAL, INC. Dated: July 16, 2004 By: /s/ Clive Burns ------------------------------------ Name: Clive Burns Title: Secretary EXHIBIT INDEX ------------- Exhibit - ------- 99.1 Press release of Telewest Communications plc announcing passage of bar dates and details of distribution of Telewest Global, Inc. common stock, dated July 16, 2004. EX-99.1 2 tp8k4ex99_1.txt Exhibit 99.1 TELEWEST COMMUNICATIONS PLC ANNOUNCES PASSAGE OF "BAR DATES" AND DETAILS OF THE DISTRIBUTION OF TELEWEST GLOBAL, INC. COMMON STOCK 16 July 2004 London - Telewest Communications plc ("Telewest") today announces the passage of the "bar dates" for the schemes of arrangement (the "Schemes") comprising part of its financial restructuring. With the passage of the bar dates, the Schemes are closed to claims for which no notice has been received and Telewest will proceed with the distribution of the common stock of Telewest Global, Inc. ("Telewest Global") to its creditors and shareholders in accordance with the attached distribution schedule. Trading in Telewest Global's common stock on the Nasdaq National Market will commence on 19 July 2004 under the symbol "TLWT". ENQUIRIES: TELEWEST 020 7299 5000 Mary O'Reilly, head of media 020 7299 5888 Richard Williams, head of investor relations 020 7299 5479 CITIGATE DEWE ROGERSON 020 7638 9571 Anthony Carlisle 07973 611888 Telewest Global, the newly-restructured broadband communications and media group, currently operates a network covering approximately 4.9 million homes in the UK and provides multi-channel television, telephone and internet services to approximately 1.74 million UK households, and voice and data telecommunications services to around 67,000 business customers. Its content division, Flextech, is the BBC's partner in UKTV. Together they are the largest supplier of basic channels to the UK pay-TV market. For further information go to www.telewest.co.uk/media. DISTRIBUTION SCHEDULE TELEWEST NOTE AND DEBENTURE HOLDERS Pursuant to the relevant schemes of arrangement an escrow agent will distribute 241,325,000 shares of Telewest Global common stock (representing 98.5% of Telewest Global's outstanding common stock) to the holders of Telewest's and its Jersey finance subsidiary's notes and debentures. The shares will be distributed amongst the various notes and debentures as follows:
- ----------------------------- --------------------------- --------------------------- --------------------- ------------------------ NOTES AGGREGATE PRINCIPAL APPROXIMATE TOTAL NUMBER MULTIPLIER APPROXIMATE NUMBER OF AMOUNT OF SHARES OF COMMON STOCK SHARES PER TO BE DISTRIBUTED $1,000/(POUND)1,000 OF (C) PRINCIPAL(1) - ----------------------------- --------------------------- --------------------------- --------------------- ------------------------ 9.625% Senior Debentures $300,000,000 12,434,919 1.220 41.450 due 2006 - ----------------------------- --------------------------- --------------------------- --------------------- ------------------------ 11% Senior Discount $1,536,413,000 65,458,708 1.254 42.605 Debentures due 2007 - ----------------------------- --------------------------- --------------------------- --------------------- ------------------------ 11.25% Senior Notes due 2008 $350,000,000 14,792,798 1.244 42.265 - ----------------------------- --------------------------- --------------------------- --------------------- ------------------------ 9.875% Senior Notes due 2010 (pound)180,000,000 12,053,718 1.971 66.965 - ----------------------------- --------------------------- --------------------------- --------------------- ------------------------ 9.875% Senior Notes due 2010 $350,000,000 14,079,319 1.184 40.227 - ----------------------------- --------------------------- --------------------------- --------------------- ------------------------ 5.25% Senior Convertible (pound)299,500,000 18,499,185 1.818 61.767 Notes due 2007 - ----------------------------- --------------------------- --------------------------- --------------------- ------------------------ 9.875% Senior Discount (pound)325,000,000 18,462,118 1.672 56.807 Notes due 2009 - ----------------------------- --------------------------- --------------------------- --------------------- ------------------------ 9.25% Senior Discount Notes $500,000,000 17,055,545 1.004 34.111 due 2009 - ---------------------------- --------------------------- --------------------------- --------------------- ------------------------ 11.375% Senior Discount $450,000,000 14,065,729 0.920 31.257 Notes due 2010 - ----------------------------- --------------------------- --------------------------- --------------------- ------------------------ 6% Senior Convertible Notes $1,000,000,000 37,814,386 1.113 75.629 due 2005 (Issued by Telewest's Jersey finance and including the benefit of Telewest's Guarantee) - ----------------------------- --------------------------- --------------------------- --------------------- ------------------------ 5% Accreting Convertible (pound)293,600,050 16,608,566 1.665 56.569 Notes due 2003 - ----------------------------- --------------------------- --------------------------- --------------------- ------------------------ Total: (2) 241,324,991 - ----------------------------- --------------------------- --------------------------- --------------------- ------------------------ - --------------------- (1) Principal outstanding at maturity in the case of the 11.375% Senior Discount Notes due 2010. (2) The aggregate total obligation, measured as the sum of the principal amounts of each note or debenture multiplied by the relevant multiplier (C), is $7,102,976,985.
To determine the number of shares that the holder of a note or debenture is entitled to receive in connection with a given note or debenture, multiply the principal amount of the note or debenture held by the applicable multiplier (C), divide that number by $7,102,976,985 (A) and multiply by 241,325,000 (B): (principal amount of note or debenture held x C) x B ------------------------------------------------ A It is anticipated that the distribution of shares will be completed on 19 July 2004. No fractional shares will be distributed to the holders of notes and debentures. Fractional interests will be aggregated and sold on the open market. The net proceeds of such sales will be paid to the UK National Society for the Prevention of Cruelty to Children. TELEWEST SHAREHOLDERS Pursuant to the Telewest scheme of arrangement, Telewest shareholders on the register of members on 14 July 2004 will be allocated in aggregate, 3,675,000 shares of Telewest Global common stock (representing 1.5% of Telewest Global's outstanding common stock). The shares of common stock will be distributed to eligible shareholders as set forth below. - -------------------------------------------------------------- NUMBER OF TELEWEST NUMBER OF NUMBER OF SHARES OF ORDINARY SHARES TELEWEST ADRS TELEWEST GLOBAL COMMON STOCK RECEIVED - -------------------------------------------------------------- 804.4004 4.022002 1 - -------------------------------------------------------------- Fractional share entitlements will not be distributed to shareholders. Instead, fractional share entitlements will be aggregated and sold on the open market. The net proceeds of such sales will be paid in cash in pounds sterling (without interest) pro rata to each shareholder entitled to a fractional share. -----END PRIVACY-ENHANCED MESSAGE-----