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Shareholders give Times Media deal green light

Times Media Group's (TMG) bid for Avusa‚ known as Project Pandora‚ has succeeded after shareholders voted in favour of the deal in a general meeting of ordinary shareholders held at the media group's head office in Rosebank this morning, Thursday, 16 August 2012.
It is hoped the deal will pave way for a strategy that will turnaround the fortunes of the company‚ which has underperformed financially.

The deal will also lead to some changes in directorships‚ including the trimming of the board from close to 15 to about nine.

TMG‚ formerly known as Richtrau 229‚ a Mvelaphanda unit‚ had offered shareholders R24 per share in cash or 1.47770 shares in TMG for every one Avusa share or combination of both.
 


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I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
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