Naspers' BEE plans exclude A-shares

February 17, 2006

AFRICA’s largest media group, Naspers, says its unlisted A-shares will not be part of its black economic empowerment transactions in its two South African operations, MultiChoice SA and Media24 later this year...

Naspers’ unlisted A-shares hold 1000 votes each against the listed N shares. It is through the A- shares that Naspers directors hold a tight control over the group. The group’s empowerment partner will not have substantial control in the group.

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