| Fri 16 Jan 2009, 14:04 | | KGM - Kagiso Media Limited - Johannesburg Expo centre buys back Rand Show brand |
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KGM
KGM
KGM - Kagiso Media Limited - Johannesburg Expo centre buys back Rand Show brand
KAGISO MEDIA LIMITED
(Incorporated in the Republic of South Africa)
(Reg. No 1957/000036/06)
Share Code: KGM
ISIN:ZAE000014007
("Kagiso Media" or "the Company")
JOHANNESBURG EXPO CENTRE BUYS BACK RAND SHOW BRAND
The Johannesburg Expo Centre and Kagiso Exhibitions & Events, a wholly owned
subsidiary of Kagiso Media, have concluded a transaction whereby the Expo Centre
has bought back the Rand Show brand, which it had sold to Kagiso in 2000.
This year Kagiso Exhibitions & Events was to have relocated the 114-year-old
Rand Show from Expo Centre, Nasrec, to Gallagher Estate, while Expo Centre is
staging the Joburg Easter Festival at its venue over the Easter holiday period.
The transaction follows Kagiso Media`s intention to wind down its wholly owned
Kagiso Exhibitions & Events subsidiary through the disposal of its assets and
trading entities.
"We believe the deal to sell the Rand Show brand to the Johannesburg Expo Centre
is in the best interests of the South African exhibition industry, as it will
eliminate confusion among both exhibitors and visitors. Furthermore, the Rand
Show in its current format is custom-designed for the Expo Centre venue, so it
can be staged without any disruption to the exhibitor and visitor base over the
Easter holidays," says Murphy Morobe, Chairperson of KEE and CEO of Kagiso
Media.
"Through an in-house activations and new-business opportunities capability,
Kagiso Media will continue to pursue a number of dynamic opportunities in the
events arena that are more aligned to the revenue generation interests of Kagiso
Media and the Kagiso Group as a whole.
"These will include various opportunities around the FIFA 2010 World Cup. To
this end we intend to maintain appropriate capacity necessary to continue with
the implementation of these specific initiatives and fulfillment of other
existing contractual obligations," adds Murphy Morobe.
"We are delighted that we have been able to conclude this deal with Kagiso Media
as the Johannesburg Expo Centre has been the traditional site for the Rand Show
since 1984 when it moved from Milpark, under the ownership of the Witwatersrand
Agricultural Society," added the CEO of Expo Centre, Craig Newman.
"We will now incorporate the Rand Show in our new offering, the Joburg Easter
Festival which will be staged from 3-13 April 2009. In essence, this will
create an entirely reinvigorated Easter entertainment offering for Joburg,
including the new entities of the Joburg Easter festival, while at the same time
retaining some of the closely held traditions and visitor following of the 114-
year old Rand Show brand.
Since then Expo Centre management has decided to get involved itself in the
organisation of exhibitions and events through its associated company, Dogan
Trading. The collective experience of the team involved in the day-to-day
running of Expo Centre, as well as those at Dogan Trading, is extensive and goes
back more than 30 years in the exhibition industry.
"The Johannesburg Expo Centre, through Dogan Trading, has entered the business
of organising exhibitions and events with the staging of Automechanika South
Africa and the co-hosted Joburg Transport Expo on March 18-21 and the Joburg
Easter Festival the next month. The Expo Centre has plans to progressively
increase the number of exhibitions and events it owns and operates," says Craig
Newman.
Expo Centre has been confirmed to host the 2010 International Broadcasting
Centre (IBC) and will be the nerve centre for the more than 2 500 of the media
representatives that are expected to be here for the 2010 World Cup and who will
deliver the event to a viewership of more than 30 billion.
Significant upgrades and refurbishment, of approximately R60-million, and done
in conjunction with the city of Johannesburg and the Local Organising Committee
of World Cup 2010 will be made at Expo Centre itself.
This includes installation of high tech IT systems required for ultra high speed
communication transmission and extensive landscaping.
The facility offers 45 000 m2 of covered exhibition space and another 80 000m2
of outdoor multi-purpose space, besides, importantly, secure parking for up to
20 000 vehicles.
Ends.
For more information:
On behalf of Johannesburg Expo Centre
Contact: Roger Houghton
Wilken Communications Management
Magala Marketing Communications
011 476 7400 or 082 371 9097
houghtonr@mwebbiz.co.za
On behalf of: Johannesburg Expo Centre
Craig Newman - CEO
011-494-1920
craign@expocentre.co.za
On behalf of Dogan Trading:
On behalf of: Dogan Trading
Raymond H. Burke - Chairman
011-494-5852
ann@seraphimsa.com
16 January 2009
Sponsor: Investec Bank Limited
Date: 16/01/2009 14:04:08 Produced by the JSE SENS Department.
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