Radio broadcast company, African Media Entertainment (AME) says it is in discussions to purchase media company, Moneyweb, or market research group, Cognition.<\/p>\n
“Shareholders of the companies are advised that AME has lodged non-binding
\nexpressions of interest to acquire all of the ordinary shares of Cognition\u00a0 and\/or
\nMoneyweb with the respective boards of directors,” AME said in a statement on Thursday after the market closed.<\/p>\n
“Whilst the expressions of interest do not at present constitute an intention to make a
\nfirm offer or offers in terms of the Companies Act, 2008 (Act 71 of 2008), shareholders
\nof\u00a0 the companies are urged to exercise caution\u00a0 n dealing in their shares in the
\ncompanies until such time as further announcements in this regard are made,” it further warned.<\/p>\n
AME which has Algoa FM and Bloemfontein’s OFM in its portfolio reported a 3% decline in revenue of to R119.4 million for the six months ended September.<\/p>\n
Comprehensive income increased by 1% to R21.8 million, but headline earnings
\nper share slipped to 226.7 cents, from 239.2 cents in 2015.<\/p>\n
The company has a market cap of R603 million.<\/p>\n