Primedia - Renewal of cautionary announcement
Primedia Limited
(Incorporated in the Republic of South Africa)
(Registration number 1993/003355/06)
Share code: PMA ISIN: ZAE000035119
Share code: PMN ISIN: ZAE000035127
(`Primedia` or `the company`)
Renewal of cautionary announcement
Primedia shareholders are referred to the cautionary announcement dated 17
August 2005 wherein shareholders were advised that the company has entered into
negotiations regarding the potential increase of the Black Economic Empowerment
(`BEE`) `N` shareholding in Primedia (`the proposed BEE transaction`).
Pursuant to the implementation of the proposed BEE transaction and the
transaction referred to below, the economic value of the BEE shareholding of the
Mineworkers Investment Company (Pty) Limited (`MIC`) in Primedia will increase
from approximately 6.7% to approximately 20.0%. MIC have agreed with Active
Value Fund Managers Limited (`Active Value`), subject to the fulfilment of
certain conditions precedent to be met by 31 October 2005, to acquire 15 million
Primedia `N` shares from Active Value at R13.75 per share `cum` the final
distribution to be made by Primedia on or about Monday, 31 October 2005.
The aforegoing will be subject to certain shareholder approvals and, if
successfully concluded, may have an effect on the market price at which
Primedia`s securities trade on the JSE Limited. Shareholders of the company are
accordingly advised to exercise caution when dealing in their Primedia
securities until a detailed announcement is made.
Sandton
9 September 2005
Investment bank
Investec Corporate Finance
Sponsor
Investec Bank Limited
Corporate law adviser
Edward Nathan (Pty) Limited
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