JCM
JCM
JCM - Johncom - Competition Commission recommendation with regard to the M-Net
and SuperSport disposal to Naspers
Johnnic Communications Limited
(Incorporated in the Republic of South Africa)
(Registration number 1889/000352/06)
Share code: JCM
ISIN: ZAE000024584
("Johncom")
Competition Commission recommendation with regard to the M-Net and SuperSport
disposal to Naspers Limited ("Naspers")
Further to the announcement dated 11 April 2007, shareholders are advised that
the Competition Commission has recommended to the Competition Tribunal that the
sale of Johncom`s effective 38,56% stake in M-Net and SuperSport to Naspers
("the M-Net and SuperSport sale") be approved without any conditions. The matter
will be set down for hearing by the Competition Tribunal in due course.
Accordingly the remaining conditions precedent to the M-Net and SuperSport sale
are the approval by the Competition Tribunal and the JSE Limited unconditionally
approving the listing of the Naspers N shares to be received as part
consideration for the M-Net and SuperSport sale.
Further announcements will be made to keep all stakeholders updated.
Johannesburg
31 May 2007
Investment Bank and Sponsor
Nedbank Capital
Legal Advisors
Werksmans Attorneys
Date: 31/05/2007 11:35:57 Produced by the JSE SENS Department.
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