DLG - Dialogue Group Holdings Limited - Introducti
DLG
DLG
DLG - Dialogue Group Holdings Limited - Introduction of BEE shareholder
Dialogue Group Holdings Limited
(formerly Africa`s Best 364 Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2005/039219/06)
Share code: DLG & ISIN: ZAE000083820
("Dialogue" or "the company")
INTRODUCTION OF BEE SHAREHOLDER
1. Acquisition by MSG Afrika of an interest in Dialogue
The Board of Directors is pleased to announce that Dialogue has taken the
first step in its strategy of achieving significant BEE shareholding at
group level. The black-owned media and communications group MSG Afrika
Investment Holdings (Pty) Limited ("MSG Afrika") has acquired 15 million
(7%) Dialogue shares for a total consideration of R24 million. The shares
have been sold to MSG Afrika by certain existing shareholders, causing no
dilution for the remaining shareholders.
2. MSG Afrika
MSG Afrika was co-founded and is majority owned by Given Mkhari and
Simphiwe Mdlalose. Given Mkhari was appointed as a non-executive director
of Dialogue during 2006.
MSG Afrika is the majority and controlling shareholder in The Jupiter
Drawing Room, Africa`s largest independent advertising agency and
television production group Curious Pictures. It also owns marketing agency
The Communications Firm and has stakes in Telkom Media and printing company
Quarto The Press.
3. Rationale for the BEE transaction
The BEE transaction is in line with one of Dialogue`s key strategic listing
objectives to introduce direct black shareholding. It allows the company to
further its strategy of achieving a minimum 26% BEE shareholding.
In recent months, MSG Afrika has secured contracts with a number of South
African blue-chip companies. Dialogue and MSG Afrika now count industry
leaders such as ABSA, Edcon and MTN as common clients, and the synergies
that may be realised as a result of this will be explored. Dialogue and MSG
Afrika will work together to deliver a co-ordinated marketing approach to
clients that will enable them to realise better value from their annual
marketing spend by delivering their brand through Dialogue`s call centres.
Cape Town
10 April 2007
Corporate advisor and designated advisor
Bridge Capital
Date: 10/04/2007 12:14:01 Produced by the JSE SENS Department.
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