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At 5:00 p.m., New York City time, on March 26, 2010 (the “Redemption Date”), OpenTV Corp. completed a redemption of all of its outstanding Class A ordinary shares, no par value, other than such Class A shares held by Kudelski SA and two of its subsidiaries. As a result, OpenTV is now a wholly owned subsidiary of the Kudelski Group. The redemption was conducted pursuant to Section 176 of the BVI Business Companies Act, 2004 (as amended, the “BVI Act”).  If you held Class A shares as of the Redemption Date and you did not dissent from the redemption in accordance with Section 179 of the BVI Act, then your shares were automatically redeemed and cancelled as of the Redemption Date, and you are entitled to receive the redemption price of $1.55 per share, without interest and less applicable withholding taxes. If you dissented in accordance with Section 179 of the BVI Act, then you are entitled to receive the fair value of your shares, as determined in accordance with the procedures set forth in Section 179 of the BVI Act.  
 
For further information concerning the redemption and the dissent process under the BVI Act, please review the Notice of Redemption and Redemption Notice/Transaction Statement.

Notice of Redemption

Redemption Notice/Transaction Statement

As of the Redemption Date, OpenTV’s Class A ordinary shares were delisted from The NASDAQ Global Market.
 
If you have any questions about the redemption, you should contact Investor Relations at (415) 962-5433, redemptioninfo@opentv.com or OpenTV Corp., Attn: Investor Relations, 275 Sacramento Street, San Francisco, California 94111.

Class Action Settlement of In Re OpenTV Corp. Shareholder Litigation

On August 5, 2010, OpenTV announced a class action settlement of In re OpenTV Corp. Shareholder Litigation, Case No. C-09-04896 MHP (N.D. CA), arising from the Kudelski Group’s October 5, 2009 tender offer to acquire Class A shares of OpenTV. To access and download the settlement-related documents, click here.