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Tiger Media Advises Warrant Holders of Warrant Expiration

Dec 12, 2013 16:15:00 (ET)

SHANGHAI--(BUSINESS WIRE)--December 12, 2013--
Tiger Media, Inc. ("Tiger Media") (NYSE MKT:IDI),(NYSE MKT:IDI.WS), a nationwide Shanghai-based multi-platform media company, is advising warrant holders today that the Company's publicly traded warrants will not be exercisable after 5:00pm, New York City time on December 26, 2013. The Company previously announced that its Board of Directors approved a change to its outstanding warrants to reduce the exercise price from $2.50 per share to $1.25 per share (the "Warrant Price Reduction"). The Warrant Price Reduction is applicable to all outstanding warrants of Tiger Media and began on December 1, 2013. A three NYSE-MKT trading day Notice of Guaranteed Delivery (Protect Period) is being provided so trading in the warrants on the NYSE MKT can continue until the close of the market on December 24, 2013, with normal three-day settlements. All unexercised warrants will expire in accordance with their terms on December 26, 2013 at 5:00 p.m. New York City time. Except for the reduction in the exercise price as herein provided, all of the terms and conditions contained in the applicable warrant instruments will continue in full force and effect.

Tiger Media's agent for exercising any of the warrants is Continental Stock Transfer & Trust Company and the agent may be contacted at 17 Battery Place -- 8th Floor, New York, New York 10004, Attention: Compliance Department. Additionally, the agent may be contacted by calling [phone] and requesting the Compliance Department.

About Tiger Media

Tiger Media is a leading nationwide multi-platform media company in China which provides advertising services in the out-of-home advertising industry, including outdoor LCD screens, billboards and street furniture. Tiger Media's network of street level LCD screen displays, which captivate eye-level awareness, is complemented by outdoor billboards which are mostly built on rooftops with good visibility from far distances. Tiger Media's network attracts advertising clients from a wide range of industries including telecommunications, insurance and banking, automobile, electronics and fast moving consumer goods. Learn more at www.tigermedia.com.

Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts, including statements about Tiger Media's beliefs and expectations, may constitute forward-looking statements as that term is defined by the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expect," "anticipate," "future," "intend," "plan," "believe," "estimate," "confident" and similar statements. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations.

Potential risks and uncertainties include the risks outlined in the Company's filings with the U.S. Securities and Exchange Commission. Tiger Media cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based.


CONTACT: Tiger Media, Inc.
Paul Conway, 0118613918844646

[e-mail]


SOURCE: Tiger Media, Inc.
Copyright Business Wire 2013

(END) Dow Jones Newswires

December 12, 2013 16:15 ET (21:15 GMT)