African Media Entertainment Limited - Further Caut
AME
AME
African Media Entertainment Limited - Further Cautionary Announcement
AFRICAN MEDIA ENTERTAINMENT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1926/008797/06)
Share code: AME & ISIN: ZAE000055802
("AME")
FURTHER CAUTIONARY ANNOUNCEMENT REGARDING AME"S OFFER TO PURCHASE
A 24,9% INTEREST IN KAYA FM FROM NEW AFRICA INVESTMENTS LIMITED ("Nail")
Further to the initial cautionary announcement dated 13 July 2005, and those
subsequent thereto, shareholders are reminded that, during January 2006, AME
increased its offer for Nail"s 24,9% interest in Kaya FM by R4 million to R25
million.
On the basis that:
* this offer is materially higher than the R19,1 million (15,1 cents per Nail
share) that the announcement by Primedia Limited ("Primedia") dated 17 December
2004 (of its firm intention to make an offer to acquire all the shares in Nail)
attributes to Nail"s 24,9% interest in Kaya FM; and
* Primedia rejected the conditional approval of the Competition Commission and
has referred the matter to the Competition Tribunal in terms of section 16 (1)
(a) of the Competition Act, Act 89 of 1998 (as amended);
* the board of AME still expects a positive response from Nail to this increased
offer.
Shareholders are accordingly advised to continue to exercise caution in dealing
in their shares until a further announcement in this regard is made.
By order of the board
Houghton
31 May 2006
Sponsor
LPC Manhattan Sponsors (Pty) Ltd
(Registration number 1999/024792/07)
Date: 31/05/2006 04:35:09 PM Produced by the JSE SENS Department
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