Kersaf Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number 1967/007528/06)
Share code: KER ISIN: ZAE000003844
("Kersaf")
PRIMEDIA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1993/003355/06)
Ordinary share code: PMA ISIN: ZAE000035119
N-ordinary share code: PMN ISIN: ZAE000035127
("Primedia")
Disposal of Ster Century Europe Limited"s cinema interests in Spain, the United
Kingdom and Ireland
Investec Bank Limited is authorised to announce that Ster Century Europe
Limited ("SCE") has disposed of its cinema interests in:
- Spain to Abacocine, S.L. for a total consideration of Euro 9,3 million (before
any working capital adjustments) ("the Spanish disposal"); and
- the United Kingdom and Ireland to Aurora Cinema Limited and Aurora Cinema
(Ireland) Limited respectively for a total consideration of GBP 16,9 million
(before any working capital adjustments) ("the United Kingdom disposal").
The Spanish disposal and the United Kingdom disposal were concluded and the
considerations paid on 30 June 2003 and 25 July 2003 respectively, resulting in
SCE"s site in Slovakia being its only remaining cinema interest. SCE is
currently progressing with the potential sale of this site.
Further details relating to the financial effects will be included by Kersaf
and Primedia in their respective financial results announcements to be published
for the year ended 30 June 2003.
Sandton
30 July 2003
Merchant bank to Kersaf and Primedia
Investec Corporate Finance
Investec Bank Limited
(Registration number 1969/004763/06)
Transaction advisor to Ster Century Europe Limited
ING
INVESTMENT BANKING
Sponsor to Kersaf and Primedia
Investec Bank Limited
(Registration number 1969/004763/06)
Date: 30/07/2003 03:40:05 PM Supplied by www.sharenet.co.za
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