Fulfilment of conditions precedent-Jacaranda and R
Kagiso Media - Fulfilment of conditions precedent-Jacaranda and RadMark
Kagiso Media Limited
(Incorporated in the Republic of South Africa)
Registration number 1957/000036/06
Share code: KGM ISIN: ZAE000014007
(`Kagiso Media` or `the Company`)
FULFILMENT OF CONDITIONS PRECEDENT IN RELATION TO THE ACQUISITION OF FURTHER
INTERESTS IN JACARANDA FM (PROPRIETARY) LIMITED (`JACARANDA`) AND RADMARK
(PROPRIETARY) LIMITED (`RADMARK`)
Shareholders are referred to the announcement dated 5 March 2004 wherein it was
announced that Kagiso Media has acquired a further 22.5% shareholding in
Jacaranda for a purchase consideration of R70.17 million, and a further 16.7%
shareholding in RadMark for a purchase consideration of R5.79 million (together
referred to as `the acquisitions`) subject to the fulfilment of certain
conditions precedent.
Kagiso Media is pleased to announce that all conditions precedent in relation to
the acquisitions have been fulfilled. Pre-emptive rights were exercised, by
other shareholders, in relation to both Jacaranda and RadMark. Accordingly, only
a further 17.5% shareholding in Jacaranda was acquired for a total consideration
of R54.57 million, and a further 15.83% shareholding in RadMark for R5.5
million. Consequently, Kagiso Media now holds 60% of the shareholding in
Jacaranda and 47.5% of shareholding in RadMark
The impact of the exercise of pre-emptive rights on the financial effects
published on 5 March 2004 is immaterial and accordingly revised financial
effects are not being published.
Johannesburg
29 July 2004
Investment Bank and Transaction Sponsor
Nedbank Capital
Sponsor
Investec Securities
Legal advisers
Webber Wentzel Bowens
Regulatory advisers
Mahlangu, Nkomo, Mabandla, Ratshimbilani Attorneys
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
