GEN - Securities Regulation Panel - Announcement i
JSE PMN
GEN
GEN - Securities Regulation Panel - Announcement in terms of rule 7.1(a) of
the Securities Regulation Code and Rules of the Securities Regulation Panel
Announcement in terms of rule 7.1(a) of the Securities Regulation Code and
Rules of the Securities Regulation Panel in respect of the acquisition of
shares in Primedia Limited
Primedia Limited
Registration number 1993/003355/06
Share code: PMA
ISIN code: ZAE000035127
("Primedia" or "the Company")
Announcement in terms of rule 7.1(a) of the Securities Regulation Code and
Rules of the Securities Regulation Panel
Shareholders are advised that GoldenTree Asset Management UK LLP
("GoldenTree") has (not in its individual capacity but on behalf of certain of
its managed funds), pursuant to a series of trades on the Securities Exchange
operated by the JSE Limited on 6 August 2007, acquired 375,400 ordinary shares
in Primedia each for a purchase price of 2369,36 cents and on 7 August 2007
acquired 470,600 ordinary shares in Primedia each for a purchase price of
2389.9 cents, which shares constitute in the aggregate less than 1.4% of the
total issued ordinary share capital of Primedia.
GoldenTree Asset Management UK LLP (not in its individual capacity but on
behalf of certain of its managed funds) is a part funder to a consortium of
investors (led by the Mineworkers Investment Company (Proprietary) Limited and
key members of management) acting through Red Pen 2 General Trading
(Proprietary) Limited, which has submitted to the board of directors of
Primedia a firm intention to make an offer to acquire, inter alia, the entire
issued ordinary share capital of Primedia for a total cash consideration of
2667 cents per Primedia ordinary share, to be effected by way of a scheme of
arrangement ("the scheme") in terms of section 311 of the Companies Act 61 of
1973, as amended.
8 August 2007
Legal Advisors: Werksmans Inc.
Date: 08/08/2007 11:00:05 Produced by the JSE SENS Department.
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