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SKY NETWORK TELEVISION LIMITED (SNT)

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delisted following approval by the High Court of New Zealand of the proposed scheme of arrangement effecting the merger of the Company and Independent Newspapers Limited to create a single entity called Merger Company 2005 Limited (to be renamed Sky Network Television Limited, ASX code SKT).

01/07/2005

we understand that under the Scheme of Arrangement, a new company ("MergeCo") bought all of the shares in INL and SKY and then all three companies amalgamated, with MergeCo remaining as the surviving company - MergeCo was then renamed Sky Network Television Limited - SKY shareholders received $1.28 per share and one MergeCo share for each SKY share - each INL shareholder received $1.78 per share and 0.836 of a MergeCo share for each INL share

01/07/2005

we understand that on or about this date the company undertook, proposed to undertake or was the subject of the following corporate action: - Scheme of Arrangement - this corporate event may appear elsewhere in this company record

01/07/2005

shares suspended from quotation

28/06/2005

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