Investor Relations
News Detail
28th Apr 1999
Offer for Outstanding Shares in South African Company Accepted by Minority Shareholders
An offer by Independent Newspapers, PLC, to acquire the 24% of Independent Newspapers Holdings Limited (INHL) which it does not already own, for a consideration of R26.50 per share, has been accepted by South African minority shareholders holding 97% of those eligible shares.
Subsequent to the successful offer, Independent Newspapers, PLC now holds 99% of the issued share capital of INHL. The Group will now compulsorily acquire the remaining shares.
The listing of INHL shares on the Johannesburg Stock Exchange will be suspended with effect from the close of business today.
Ends. Wednesday, 28th April 1999
For Reference:
Jim Milton, Murray Consultants Limited Tel: +353 - 1 - 661 4666
