GEN - Securities Regulation Code - Announcement in
JSE PMN
GEN
GEN - Securities Regulation Code - Announcement in terms of rule 7.1 (a) of the
SRP Code
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 in respect of the acquisition of shares in
Primedia Limited
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 13 August 2007, acquired 663,416 ordinary shares in Primedia
each for a purchase price of 2386,24 cents, which shares constitute in the
aggregate less than 1.2% 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.
14 August 2007
Legal Advisors : Werksmans Inc.
Date: 14 August 2007 Produced by the JSE SENS Department
Date: 14/08/2007 10:32:02 Produced by the JSE SENS Department.
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