Data provided by McGregor BFA
All data is delayed
Loading...
See More

Times Media to list on JSE

Jul 19 2012 09:58 I-Net Bridge

Related Articles

Avusa diluted earnings fall 36%

Avusa up as UBS raises price target

No job cuts expected at Avusa

Avusa shares up nearly 13% on offer

Avusa Heps at least 35% lower

SACP opposed to Avusa takeover

 

Johannesburg - Times Media Group (TMG)‚ formerly Richtrau‚ has announced it will list on the JSE on September 10.

TMG said it would list on the JSE’s main board in the media sector under the share code TMG and the abbreviated name TIMESG.

TMG recently announced a cash and share offer to Avusa [JSE:AVU]‚ estimated to be worth R1.1bn.

The announcement by TMG is in line with a series of inter-conditional steps that will result in its listing on the JSE‚ housing all of Avusa’s assets.

The company said it was not seeking to raise any funds through the offer set out in the prospectus.

TMG’s offer consists of a cash offer of R24.00 per Avusa share and a share exchange of Avusa ordinary shares (or a portion thereof) for TMG ordinary shares. The cash offer represents a premium of 19.6% to the Avusa 30-day volume-weighted average price (VWAP) per share of R20.07 as at the close of business on June 11 2012. The share exchange ratio is 1.478 TMG ordinary shares for every one Avusa ordinary share.

 
times media group  |  avusa  |  media
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

ANC set for two-thirds majority - poll

The ANC is on course to win nearly a two-thirds majority in 7 May elections, a poll has showed, confounding analysts who had predicted a fall in support for the ruling party.

 
 

Latest elections multimedia

Why Jack Parow wants you to vote on 7 May
The ad the SABC doesn't want to air
Elections 2014 in one cartoon
This year's election posters

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...