AME - African Media Entertainment Limited - Furthe
AME
AME
AME - African Media Entertainment Limited - Further cautionary announcement
regarding AME`S offer
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
17 January 2007
Sponsor
Arcay Moela Sponsors (Proprietary) Limited
(Registration number 2006/033725/07)
Date: 17/01/2007 11:20:20 Produced by the JSE SENS Department.
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