PRIMEDIA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1993/003355/06)
JSE Share code: PMA ISIN: ZAE000035119
JSE Share code: PMN ISIN: ZAE000035127
("Primedia")
Ratio of the re-investment election
1. Introduction
Further to the announcement dated 15 February 2002, Investec Bank Limited
is authorised to announce the ratio of the re-investment election, the terms
of which were contained in the circular issued to Primedia unitholders on 30
November 2001.
2. Ratio of the re-investment election
The number of new Primedia consolidated "N" ordinary shares to be issued in
terms of the re-investment election is calculated on the following basis:
Entitlement = the number of Primedia consolidated 17,32 cents x 1,05
shares held on the record date in respect X ------------------
of the re-investment election the market price
where the market price is the weighted average traded price in cents of the
Primedia consolidated "N" ordinary shares for the three trading days ended
on Wednesday, 20 February 2002.
The weighted average traded price of a Primedia consolidated "N" ordinary
share to 20 February 2002 was 357,10 cents. Accordingly, 5,09277 new
Primedia consolidated "N" ordinary shares will be issued for every 100
Primedia consolidated ordinary and "N" ordinary shares held on Friday, 8
March 2002 in respect of the re-investment election.
3. Listing of new Primedia consolidated "N" ordinary shares
Listing of the maximum number of the Primedia consolidated "N" ordinary
shares in respect of the re-investment election will commence on Monday, 4
March 2002.
4. Cash payment election
The last day to elect the cash payment is 12:00 on Wednesday, 6 March
2002. Cheques in respect of the cash payment election of 17,38 cents per
share, being 17,32 cents plus interest of 0,06 cent per share will be paid
in respect of the cash payment election for the period from 22 February 2002
up to and including 8 March 2002, will be paid to shareholders on Monday, 11
March 2002.
Sandton
22 February 2002
Merchant bank and sponsor
Investec Corporate Finance
Investec Bank Limited
(Registration number 1969/004763/06)
Corporate law advisers and consultants
Edward Nathan & Friedland (Pty) Ltd
Corporate Law advisers & consultants
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