Primedia Limited
(Registration No. 1993/003355/06)
("Primedia")
CHANGES TO THE BOARD
Paul Nkuna, an existing Director of Primedia, has been appointed as chairman
of the board. He takes over from Issie Kirsh, a founding member of Primedia
and Chairman for the last seven years. Issie Kirsh will remain on as a
director of the company. Paul Nkuna has also been appointed as Chairman of
the remuneration committee of the board.
Mark Lamberti, Allan Watson and Mackie Brodie have elected to retire from
the board.
At the extra-ordinary general meeting held on 11 May 2001 ("EGM"), the board
undertook that it would engage with Active Value Fund Managers Limited
("AVF") with a view to developing a positive and co-operative relationship
with AVF as the representative of approximately 34,9% of the voting rights
attaching to Primedia's issued share capital.
Through on-going discussions since the EGM, the board and AVF have achieved
consensus on Primedia's strategy and budget and a common purpose in relation
to the business and direction of Primedia. As a result of these
developments the board has resolved to appoint to its ranks Julian Treger
(with Brian Myerson as his alternate) and Mark Barnes, who are
representatives of AVF.
With these changes, the Board has re-affirmed its commitment to empowerment
and to working for the long term benefit of the Group and its shareholders.
Joint Advisors to the Board of Primedia
Corpcapital Corporate Finance
Investec
Edward Nathan & Friedland (Proprietary) Limited
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
