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); and
* the Competition Commission has unconditionally approved the proposed
merger between AME and Kaya FM,
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
16 October 2006
Sponsor
LPC Manhattan Moela (Pty) Ltd
(Registration number 2001/009215/07)
Date: 16/10/2006 04:26:10 PM Produced by the JSE SENS Department
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