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NPN
NPN
Naspers Limited - Results of the Welkom Yizani public offer
Naspers Limited
(Incorporated in the Republic of South Africa)
(Registration number 1925/001431/06)
Share code: NPN & ISIN: ZAE000015889
("Naspers" or "the company")
Results of the Welkom Yizani Investments Limited ("Welkom Yizani") public
offer
1. INTRODUCTION
In furtherance of its empowerment objectives, Naspers recently
implemented a Broad-Based Black Economic Empowerment ("BEE") ownership
initiative in relation to Media24 Limited ("Media24"). This initiative
was called Welkom Yizani. It will result in the acquisition by qualifying
Black Persons and Black Groups ("General Black Public" or "Black
Participants") of ordinary shares in the issued share capital of Welkom
Yizani Investments Limited ("Welkom Yizani"), which in turn will hold
ordinary shares in the issued share capital of Media24 Holdings
(Proprietary) Limited ("Media24 Holdings"), the holding company of
Media24. Shareholders are referred to the Naspers announcement published
on 27 September 2006 in this regard.
2. RESULTS OF THE WELKOM YIZANI PUBLIC OFFER AND ALLOCATION OF SHARES
Approximately 108 000 applications were received for the 14 600 000
Welkom Yizani ordinary shares offered to the public ("the public offer"),
pursuant to the public offer that closed on 3 November 2006 ("the closing
date"). The details are as follows:
* Number of Welkom Yizani ordinary shares applied for: 42 193 885
* Rand amount of R421 938 850.
The offer was almost three times subscribed. The processing of
applications is currently under way and should be finalised soon. In
keeping with our broad-based objectives and subject to all applications
having been verified, it has been resolved that all Black Person and
Black Group applicants that applied for Welkom Yizani ordinary shares up
to a value of R4 300, will be allocated the full number of Welkom Yizani
ordinary shares they applied for (430). Applicants who applied for more
than 430 Welkom Yizani ordinary shares, will receive at least 430 Welkom
Yizani ordinary shares. This allocation will result in approximately 85%
of all applicants receiving the full parcel of shares they applied for.
The process to refund excess application monies will begin in mid -
December 2006.
Cape Town
27 November 2006
Investment bank and sponsors to Naspers
Investec Corporate Finance
Investec Bank Limited
(Registration number 1969/004763/06)
Joint attorneys and tax advisers to Naspers
Webber Wentzel Bowens
Joint attorneys to Naspers
Jan S. de Villiers
Attorneys
Date: 27/11/2006 12:00:06 PM Produced by the JSE SENS Department
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