Primedia - New Shareholders At Primedia Limited
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")
NEW SHAREHOLDERS AT PRIMEDIA LIMITED
Shareholders are advised that on Thursday last week (13 October 2005), Active
Value had further disposed of 17 million ordinary shares at R13, 75 per share,
to a major local institution. This is in addition to their disposal on 12
September 2005, subject to certain shareholder approvals and to which Primedia
is under cautionary announcement, of 15 million "N" shares to the Mineworkers
Investment Company (MIC) at R13, 75 per share. As result of this latter
transaction, Primedia"s BEE economic stake in Primedia Limited will rise to
approximately 20%, from 6,7%, in addition to MIC having joint voting control
over Primedia.
Commenting on the share transactions, William Kirsh, Chief Executive Officer of
Primedia Limited said: "I am very pleased to announce that the overhang in
Primedia, created by Active Value"s shareholding, has been removed. Active Value
have sold 32 million of their 37 million shares, leaving them with approximately
5 million "N" shares, and through this transaction we have made great progress
in raising MIC"s BEE stake in Primedia, as well as ensuring that the balance of
the shares are now in solid local hands. We are delighted with our new, blue
chip local shareholder and we trust that their investment in Primedia will be
very rewarding."
17 October 2005
Sandton
Sponsor and advisor:
Investec Bank Limited
Enquiries:
Brunswick 011 268 5750
Rob Pinker 083 326 7794
Gareth Sharp 083 287 3180
Date: 17/10/2005 03:34:06 PM Produced by the JSE SENS Department
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