GEN - Securities Regulation Panel - Primedia Limit
JSE
GEN
GEN - Securities Regulation Panel - Primedia Limited
SECURITIES REGULATION PANEL
("the SRP")
Scheme of arrangement in terms of Section 311 of the Companies Act No 61 of 1973
proposed 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")
Appeal against the Ruling of the Executive Committee of the SRP ("Exco")
Re-hearing before the Panel of the SRP ("the Panel")
It was announced on 2 July 2007 that, pursuant to the hearing before the Exco to
consider certain aspects of the then 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,
the Exco had ruled, inter alia, "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." ("the ruling").
An appeal against the ruling of the Exco has been lodged in accordance with the
Rules and the ruling.
In terms of the Rules the appeal will be in the form of a re-hearing before the
Panel. As such, interested parties with locus standi will be given the
opportunity to make additional or new written and/or oral submissions to the
Panel.
The following timetable will apply in relation to the appeal:
2007
Pertinent documents and submissions to lie open
for inspection at the SRP`s offices from 09:00 Thursday, 19 July
Written submissions to be delivered to the SRP by 16:00 Tuesday, 24 July
Written responses to submissions to be delivered
to the SRP by 16:00 Friday, 27 July
Re-hearing before the Panel at 09:00 Wednesday, 1 August
Notification of decision of the Panel before 09:00 Monday, 6 August
The Panel which will hear this matter comprises Mr CA Jaffe Mr ND Lowenthal, Mr
S Ramburuth, Adv B Spilg SC and Mr WS Yeowart.
Johannesburg
18 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: 18/07/2007 15:46:01 Produced by the JSE SENS Department.
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