TIMES MEDIA GROUP LIMITED - Fulfilment of Suspensive Conditions in Connection with the Disposal of Interest in I-Net Bridge Proprietary Limited

Fulfilment of Suspensive Conditions in Connection with the Disposal of Interest in I-Net Bridge Proprietary Limited

TIMES MEDIA GROUP LIMITED
(Formerly Richtrau No. 229 Proprietary Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2008/009392/06)
Ordinary Share Code: TMG
Ordinary share ISIN: ZAE 000169272
(“the Company”)

FULFILMENT OF SUSPENSIVE CONDITIONS IN CONNECTION WITH THE DISPOSAL
OF INTEREST IN I-NET BRIDGE PROPRIETARY LIMITED

1.   DISPOSAL OF 100% INTEREST IN I-NET BRIDGE PROPRIETARY LIMITED

     Shareholders of the Company are referred to the announcement
     on SENS on 7 August 2013 (“Disposal Announcement”), advising
     that the Company, through its wholly-owned subsidiaries Avusa
     Media Proprietary Limited, BDFM Publishers Proprietary Limited
     and Library Network Proprietary Limited (collectively referred
     to as “Times Media”), had entered into an agreement (“the Sale
     Agreement”) with McGregor BFA Proprietary Limited (“the
     Purchaser”), in terms of which Times Media disposed of its
     100% shareholding in, and all claims of whatsoever nature
     against, I-Net Bridge Proprietary Limited to the Purchaser.

2.   Fulfilment of Suspensive Conditions

     Shareholders of the Company are hereby informed that the
     suspensive conditions set out in the Disposal Announcement
     have been fulfilled and, accordingly, the effective date
     occurred on 15 November 2013 and the Sale Agreement has become
     unconditional in accordance with its terms.

By order of the board

18 November 2013
Johannesburg

Sponsor
PSG Capital Proprietary Limited

Fasken
Legal advisor to TMG

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