To view the PDF file, sign up for a MySharenet subscription.

NPN - Naspers Limited - Acquisition of a controlling stake in Poland`s leading

Release Date: 04/10/2007 10:00
Code(s): NPN
Wrap Text

NPN - Naspers Limited - Acquisition of a controlling stake in Poland`s leading instant messenger company, GADU GADU S.A. Naspers Limited (Incorporated in the Republic of South Africa) (Reg. No 1925/001431/06) Share Code: NPN ISIN: ZAE000015889 ("Naspers") ACQUISITION OF A CONTROLLING STAKE IN POLAND`S LEADING INSTANT MESSENGER COMPANY, GADU GADU S.A. Announcement of Tender Offer for up to 100% of Warsaw-listed Gadu Gadu, with Majority Owner Irrevocably Committing to Tender 55% Stake Through this investment, Naspers will take control of the leading independent Instant Messenger in Central Europe, with over six million unique users. Naspers expects to build on this significant network by bringing its international know-how to bear. South Africa, 4 October 2007 - Naspers Limited (JSE: NPN, LSE: NPSN), today announced, that it will make a public tender offer to acquire up to 100% of leading Warsaw-listed Polish internet company Gadu Gadu S.A. and that the current majority shareholder has irrevocably committed to tender its 55% shareholding in the public tender offer. Since inception in 2000, Gadu Gadu has evolved into Poland`s leading Instant Messenger (IM). The company has over six million unique users with a 43% share of the Polish IM market. The company also operates one of the leading social community portals in the country, mojageneracja.pl, with approximately 1,6 million unique users. Poland is the EU`s fifth most populous country with 38 million inhabitants, exhibiting fast growth in the penetration of broadband connectivity, usage of the internet and online internet advertising. Through this investment, Naspers enters the Polish market and by contributing its international know-how and track record in other large markets such as China (Tencent) and Russia (Mail.ru), Naspers expects to build the existing business and the user community by adding functionality, enriching user experience, maximising engagement with users and leveraging the platform with advertisers for optimised monetisation. In terms of the public tender Naspers will extend an offer to acquire 100% of the shares of Gadu Gadu S.A. at a tender price of PLN 23,50 per share with the current majority shareholder having made an irrevocable commitment to tender its 55% shareholding. Assuming 100% acceptance in the tender offer, the total investment consideration will be approximately US$155 million. 4 October 2007 Cape Town Sponsor: Investec Bank Limited Contact details: Antonie Roux CEO - MIH Internet Division: Global +27 21 406-2624 +27 82 444 7551 aroux@mihinternet.com Mark Sorour Group Chief Investment Officer Naspers +27 21 406 3008 +27 83 2 500 000 msorour@naspers.com or Steve Pacak Group Chief Financial Officer Naspers +27 21 406 3585 +27 83 2 500 006 spacak@naspers.com Important Information: This announcement contains forward-looking statements. While these forward- looking statements represent our judgements and future expectations, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These include key factors that could adversely affect our businesses and financial performance. The Company will not undertake any obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements whether as a result of new information, future events or otherwise except as required by law or any appropriate regulatory authority. Investors are cautioned not to place undue reliance on any forward-looking statements contained herein. About Naspers: Naspers is a multinational media company with principal operations in electronic media (including pay-television, internet and instant-messaging subscriber platforms and the provision of related technologies) and print media (including the publishing, distribution and printing of magazines, newspapers and books, and the provision of private education services). Naspers`s most significant operations are located in South Africa, where it generates most of its revenues, with other operations located elsewhere in Sub-Saharan Africa, Greece, China, Brazil, Russia, the Netherlands, the United States and Thailand. Naspers creates media content, builds brand names around it, and manages the platforms distributing the content. Naspers delivers its content in a variety of forms and through a variety of channels, including television platforms, internet services, newspapers, magazines and books. Date: 04/10/2007 10:00:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

Share This Story