{"id":45679,"date":"2013-09-10T17:35:06","date_gmt":"2013-09-10T15:35:06","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=45679"},"modified":"2013-09-11T09:16:11","modified_gmt":"2013-09-11T07:16:11","slug":"kagiso-shares-soar-on-acquisition-offer","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/media\/45679\/kagiso-shares-soar-on-acquisition-offer\/","title":{"rendered":"Kagiso Media shares soar on acquisition offer"},"content":{"rendered":"<p>Black-owned and managed investment holding company, Kagiso Tiso Holdings (<a title=\"Kagiso Tiso Holdings\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/2843-Kagiso-Tiso-Holdings\">KTH<\/a>), has announced its firm intention to purchase the remaining shares in listed media group, Kagiso Media (<a title=\"Kagiso Media\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/4866-Kagiso-Media\">KML<\/a>).<\/p>\n<p>Kagiso Tiso\u00a0currently owns 51.1% of KML.<\/p>\n<p>Shares in Kagiso Media advanced R4.00 (or 17.13%) to R27.35 by close of play on the JSE on Tuesday (10 September), giving the\u00a0company\u00a0a market cap of R3.67 billion.<\/p>\n<p>Kagiso Media\u00a0operates primarily through:<\/p>\n<ul>\n<li>Broadcasting with radio\u00a0assets including East Coast Radio (100%), Jacaranda FM (80%), OFM (24.9%),\u00a0and\u00a0an economic interest in Kaya FM (47.5%);<\/li>\n<li>Information and other which includes Juta (100%), Knowledge Factory (70%);<\/li>\n<li>Digital Services which includes Gloo Digital Design (60%) and Kagiso.MSN;<\/li>\n<li>And content where it holds a controlling stake (50.1%) in Urban Brew Studios.<\/li>\n<\/ul>\n<p>Kagiso Tiso Holdings\u00a0was created through a merger between Kagiso Trust Investments and Tiso Group in July 2011.<\/p>\n<p>The company says it has a net asset value of approximately R9 billion and in addition to media, boasts exposure to other key sectors in the economy, ranging from power, insurance, financial services, and health.<\/p>\n<p>Through this transaction KTH has offered minority shareholders a cum dividend cash consideration of R28.50 per share, which represents a 34.5% premium to the 30 day volume-weighted average price (VWAP) prior to KML&#8217;s cautionary announcement on 10 June 2013.<\/p>\n<p><a title=\"Vuyisa Nkonyeni\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/10050-Vuyisa-Nkonyeni\">Vuyisa Nkonyeni<\/a>, CEO of KTH said: &#8220;KML has always been a key investment and we aim to build on its success. This transaction forms part of the broader KTH investment strategy and also contributes positively to the transformation of a key sector of the economy.&#8221;<\/p>\n<p>Subsequent to attaining shareholder and regulatory approvals, KTH plans to delist KML from the JSE.<\/p>\n<p>&#8220;Once approved, the KML buy-out will become a significant milestone for transformation on the South African landscape,&#8221; Kagiso Tiso said in a statement on Tuesday (10 September).<\/p>\n<p>Shareholders of KML will vote on the transaction at a special general meeting to be held within the next two months. The deal will be subject to regulatory approvals.<\/p>\n<h3 class=\"my-4\">More on\u00a0Kagiso Media<\/h3>\n<p><a title=\"Kagiso Media appoints new CEO\" href=\"http:\/\/businesstech.co.za\/news\/media\/41657\/kagiso-media-appoints-new-ceo\/\"><strong>Kagiso Media appoints new CEO<\/strong><\/a><\/p>\n<p><a title=\"Kagiso looks to MSN Africa portals\" href=\"http:\/\/businesstech.co.za\/news\/internet\/32562\/kagiso-looks-to-msn-africa-portals\/\"><strong>Kagiso looks to MSN Africa portals<\/strong><\/a><\/p>\n<p><a title=\"Kagiso CEO steps down\" href=\"http:\/\/businesstech.co.za\/news\/general\/27663\/kagiso-ceo-steps-down\/\"><strong>Kagiso CEO steps down<\/strong><\/a><\/p>\n<p><a title=\"MSN business set for growth in 2013: Kagiso\" href=\"http:\/\/businesstech.co.za\/news\/general\/22140\/msn-business-set-for-growth-in-2013\/\"><strong>MSN business set for growth in 2013: Kagiso<\/strong><\/a><\/p>\n<p><a title=\"Kagiso Media on acquisition trail\" href=\"http:\/\/businesstech.co.za\/news\/internet\/21530\/kagiso-media-on-the-acquisition-trail\/\"><strong>Kagiso Media on acquisition trail<\/strong><\/a><\/p>\n<p><a title=\"Kagiso Media reports 15% rise in H1 revenue\" href=\"http:\/\/businesstech.co.za\/news\/general\/7011\/kagiso-media-reports-15-rise-in-h1-revenue\/\"><strong>Kagiso Media reports 15% rise in H1 revenue<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kagiso Tiso Holdings has made a cash offer to buy-out the minority shareholders of listed firm Kagiso Media.<\/p>\n","protected":false},"author":10,"featured_media":22145,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5554],"tags":[1791,26,1790,1786,2844,6627,1792],"class_list":["post-45679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-media","tag-east-coast-radio","tag-headline","tag-jacaranda-fm","tag-kagiso-media","tag-kagiso-tiso-holdings","tag-kagiso-msn","tag-kaya-fm"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/45679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=45679"}],"version-history":[{"count":12,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/45679\/revisions"}],"predecessor-version":[{"id":45728,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/45679\/revisions\/45728"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/22145"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=45679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=45679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=45679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}