GEN - SRP - Securities Regulation Panel - Announce
JSE
GEN
GEN - SRP - Securities Regulation Panel - Announcement
Securities Regulation Panel
("the SRP")
Proposed offer by a consortium of investors led by the Mineworkers
Investment Company (Proprietary) Limited, the Isaac Kirsh Family Trust No.
2, the William Kirsh Family Trust and, if applicable, their respective
family entities (collectively "the Consortium") to acquire the entire
issued ordinary and N ordinary share capital of Primedia Limited
("Primedia"):
Hearing before the Executive Committee of the SRP
1. A hearing before the Executive Committee ("Exco") of the SRP took place
on Monday, 2 July 2007, to consider certain aspects of the proposed offer
by the Consortium to acquire the entire issued ordinary and N ordinary
share capital of Primedia and the application of the Securities Regulation
Code and Rules ("the Rules") thereto.
2. After hearing and reviewing the various oral and written submissions
presented by the various interested parties, the Exco ruled as follows:
2.1 That the proposed offer by the Consortium complies with Rule 11.1 of
the Rules in that the intended offer prices made for the ordinary and N
ordinary shares of Primedia are comparable as contemplated in Rule 11.1.
3. In terms of the requirements of the Promotion of Administrative Justice
Act, 3 of 2000, any party wishing to appeal this ruling is called upon to
do so within three business days of the issue of the Exco`s written reasons
for its decision. The written reasons will be available at the SRP`s
offices as from Friday, 6 July 2007.
Johannesburg
2 July 2007
Securities Regulation Panel
2 Sherborne Road, Parktown, 2193 P.O. Box 91833, Auckland Park, 2006
Tel: (011) 482 5630 Fax: (011) 482 5635 e-mail: srp@iafrica.com
Date: 02/07/2007 15:59:00 Produced by the JSE SENS Department.
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