Finalisation, Offer consideration and results of general meeting announcement 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 (“TMG” or “the Company”) FINALISATION, OFFER CONSIDERATION AND RESULTS OF GENERAL MEETING ANNOUNCEMENT 1. Introduction Shareholders are referred to the announcement released on SENS as well as the circular posted to shareholders on Monday, 25 February 2013 regarding (i) the adoption of a management incentive plan proposed to incentivise senior management of the Company and its subsidiaries, to align the interest of senior management with those of the shareholders of the Company and to ensure continuity of senior management (“the Management Incentive Plan”) and, (ii) the implementation of an odd-lot offer in terms of which shareholders holding less than 100 ordinary shares (“Odd-lot Holders” and “Odd-lot Holdings”, respectively) were given the option to either sell their Odd-lot Holdings to TMG (or any wholly owned subsidiary nominated by TMG) for an offer consideration or retain their Odd-lot Holdings (“the Odd-lot Offer”) (“Circular”), which Circular included a notice of general meeting (“Notice of General Meeting”). 2. Results of General Meeting Shareholders are referred to the Circular and the Notice of General Meeting included therein and are advised that, at the general meeting of shareholders held today (“the General Meeting”), all of the proposed ordinary and special resolutions pertaining to the Management Incentive Plan and the Odd-lot Offer, as contained in the Notice of General Meeting were passed by the requisite majority of shareholders present and voting in person or by proxy. 3. Finalisation and determination of the Offer Consideration 3.1. Given that shareholders have approved all resolutions pertaining to the Odd-lot Offer, the Odd-lot Offer is now unconditional and will be implemented in accordance with the salient dates and times published on SENS on 25 February 2013 and in the Circular. 3.2. In terms of the Odd-lot Offer, Odd-lot Holders who elected to sell their Odd-lot Holdings to TMG (or any wholly owned subsidiary nominated by TMG) will receive the offer consideration determined to be R15.59 (fifteen rand and fifty nine cents) being the volume weighted average price of ordinary shares of the Company on the JSE Limited for the 5 (five) trading days prior to Wednesday, 27 March 2013 (“the Offer Consideration”). 3.3. The Offer Consideration will be paid to Odd-lot Holders who elected to sell their Odd-lot Holdings in accordance with the mechanisms set out in the Circular. 3.4. The Odd-lot Offer will open for acceptance from 09:00 on Thursday, 28 March 2013 and will close at 12:00 on Friday, 19 April 2013. 3.5. The results of the Odd-lot Offer (and the implementation thereof) will be released on SENS in line with the timetable contained in the Circular. 3.6. All shares repurchased in terms of the Odd-lot Offer will be repurchased by a wholly owned subsidiary of the Company and will be held as treasury shares. 27 March 2013 Johannesburg Corporate Advisor and Sponsor: PSG Capital Proprietary Limited Legal Advisor: Edward Nathan Sonnenbergs Inc. Date: 27/03/2013 05:25:00 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.