Primedia offer reaches acceptance

New Africa Investment Limited (Nail) will delist from the JSE on January 30 next year, according to Primedia, which has offered to buy out all other shareholders of the cash shell. Primedia said on Friday that it had received acceptance of the offer from the required 90 percent of minority holders of the suspended stock. The firm intended to exercise its entitlement to compulsorily buy the remaining offer shares in accordance with terms of section 124 of the Companies Act at an offer of R1.0296 a share, it said. Nail had also offered an alternative of a 59.48c a share with a potential “agterskot” , or afterpayment, later, it said. – Asha Speckman


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