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 bases that:
* this offer is materially higher than the R19,1 million (15,1 cents per Nail
share) offered by Primedia Limited ("Primedia") as appears from the
Primedia announcement dated 17 December 2004 of its firm intention to make
an offer to acquire all the shares in Nail for Nail"s 24,9% interest in
Kaya FM;
* Primedia has rejected the conditional approval of the Competition
Commission for its proposed merger with Nail 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 its 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
30 August 2006
Sponsor
LPC Manhattan Moela (Pty) Ltd
(Registration number 2001/009215/07)
Date: 30/08/2006 04:53:12 PM Produced by the JSE SENS Department
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