Discovery is pleased to announce that it has reached agreement to conclude a
Black Economic Empowerment ("BEE") transaction ("the proposed BEE transaction")
pursuant to which shares equivalent to approximately 7,0% of Discovery"s current
issued share capital (or 6,54% of the issued share capital post the proposed BEE
transaction) will be allocated as follows...
- 1,0% to Discovery employees and black non-executive directors;
- 2,6% to the Discovery Foundation; and
- 3,4% to BEE groups comprising a broad-base of historically disadvantaged
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