AME - African Media Entertainment Limited - Furthe
AME
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;
* the Competition Commission has unconditionally approved the proposed
merger between AME and Kaya FM;
* the decision of the Competition Tribunal to approve the
Nail/Primedia/Capricorn merger is under review by the Competition Appeal
Court;
* 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
14 March 2007
Sponsor
Arcay Moela Sponsors (Proprietary) Limited
(Registration number 2006/033725/07)
Date: 14/03/2007 11:13:01 Produced by the JSE SENS Department.
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