Primedia Limited - Primedia announces the successf
PMA PMN
PMA
Primedia Limited - Primedia announces the successful private placement of R150
million worth of perpetual preference shares
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")
Primedia announces the successful private placement of R150 million worth of
perpetual preference shares
Primedia Limited today announced that it had privately placed R150 million of
additional equity in the form of 1 500 000 non-redeemable, cumulative, non-
participating Primedia preference shares (par value of R0,0002) with a
subscription price of R100,00 per preference share, including premium. The
preference dividend rate is 75% of prime. Primedia also released its Abridged
Pre-Listing statement Thursday, 11 May 2006. The preference shares will be
listed on the JSE Limited at 9h00 on Tuesday, 16 May 2006.
Commenting on the rationale for the placement, William Kirsh, Primedia CEO said:
"The group has been executing well on its growth strategy, of which acquisitions
is a key part. We are busy now with a number of very exciting acquisitions, and
we believe that this form of permanent capital is cost effective to fund such
acquisitions. On the basis of this momentum, it is also likely that we will
increase the size of this capital base in the future. I am also pleased to
report that the private placement was well over subscribed and Primedia has been
able to place its preference shares with a wide range of investors."
Sandton
11 May 2006
Sponsor
Investec Bank Limited
Enquiries:
Brunswick 011 268 5750
Rob Pinker 083 326 7794
Gareth Sharp 083 287 3180
Date: 11/05/2006 05:15:36 PM Produced by the JSE SENS Department
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