MultiChoice Group Limited (MCG) Today Released Its Pre-Listing Statement in Compliance with the JSE Listings Requirements
Naspers Limited (JSE: NPN; LSE: NPSN): MultiChoice Group Limited (MCG) today released its pre-listing statement in compliance with the JSE Listings Requirements (www.multichoice.com ) providing further details about its listing on the Johannesburg Stock Exchange (JSE). Trading in MCG shares is expected to commence on the JSE on Wednesday, 27 February 2019. As announced on 17 September 2018, MCG will include, amongst others, MultiChoice South Africa (MCSA), MultiChoice Africa, Showmax, as well as the global digital platform security provider, Irdeto and all their subsidiaries and affiliates (“the Group”).
Calvo Mawela, Group Chief Executive Officer of MCG said: “We believe the listing of MultiChoice provides an excellent opportunity to invest in the leading provider of video entertainment on the African continent. MCG brings an incomparable local and international content offering to around 14-million households and is one of the fastest growing pay-TV broadcast providers globally. With strong financials, the flexibility of an ungeared balance sheet and deep local knowledge, we hope to deliver excellent returns to shareholders over time”.
The MCG management team is focused on the growth opportunity across Africa, a market of significant TV consumption by global standards. Pay-TV and Connected Video remain under-penetrated on the continent compared to many other markets in the world and MCG intends to pursue both these avenues of growth.
Bob van Dijk, Naspers CEO, said:
“MultiChoice Group is a pioneer in video entertainment across Africa and we are extremely proud to have built this company into a major success from the time when it was founded over 30 years ago. The strength of the company’s leadership team, alongside its compelling content, world-class technological capabilities and attractive financial profile means that it is very well positioned for future growth in an evolving sector on the African continent.”
Content as a key driver of growth
MCG plays an important role in making information and entertainment content easily accessible to its customers in Africa. In countries where celebrating culture is an important driver of consumption, MCG creates and showcases unparalleled local content. Access to international content from eight of the top ten US studios, including movie and children’s content, is another key pillar in the Group’s offering and growth plan.
The Group is also the continent’s largest funder of sport, providing leading sports offerings and holding major international as well as local sports rights. With extensive production capabilities for local sports events, the Group is an important partner for many sports federations thus making a major contribution to sports development.
World-class technology and infrastructure
MCG provides consumers with highly advanced, best-in-class technology. Irdeto, a digital platform security provider, is integral in providing cutting-edge security solutions, a key aspect of any pay-TV business. Irdeto also provides security and software services to numerous blue-chip clients globally and, as such, is also a standalone revenue and cash flow generator.
Committed to empowerment
In 2006 and 2007, Naspers undertook one of the largest Broad-Based Black Economic Empowerment (B-BBEE) transactions in South Africa by facilitating the acquisition of a stake in MCSA by black investors. Naspers arranged, structured and funded the sale of a 20% interest in MCSA to black investors through Phuthuma Nathi (PN). Today, PN comprises approximately 90,000 individual and institutional shareholders and its shares are listed on the Equity Express Securities Exchange.
The planned listing and unbundling of MCG reinforces the commitment of both MCG and Naspers to broad, socio-economic transformation in South Africa through the allocation of an additional 5% stake in MCSA to PN for no consideration. This empowerment transaction will be implemented on the Unbundling Operative Date, and will increase the PN shareholders’ indirect interest in MCSA to 25%, resulting in a 25% increase in PN’s dividend inflows.
After the Admission, and subject to obtaining PN board and shareholder approvals, it is MultiChoice Group's intention to enable an exchange of 25% of PN's original shareholding (before the allocation of the additional 5% discussed above) in MCSA for Shares in MultiChoice Group, which Shares will be freely tradeable on the JSE. The exchange of MCSA shares for MultiChoice Group Shares is expected to unlock incremental value for the PN shareholders.
The Group’s development agenda and investments have brought social and economic benefits to the communities across the continent. MCG employs more than 11 000 people across Africa and indirectly creates economic prosperity for more than 20 000 people who are employed by partners and suppliers.
About MultiChoice Group
MultiChoice Group is Africa's leading multi-channel digital satellite and pay-television destination, offering its 14 million customers access to a world of entertainment, anywhere, anytime. MultiChoice has been in operation for the past 20 years and through its flagship product brand, DStv, the company delivers the latest and most compelling local and international content to millions of households across Africa. The company’s ongoing commitment to innovation and technology advancement resulted in the creation of its iconic high definition PVR decoder, the DStv Explora – which won the Product of the Year for 2015.
Through its corporate social investment, MultiChoice actively participates in social transformation, ongoing investment in local content, job creation and skills development - which in turn strengthens the television and broadcasting industry and contributes to the South African economy.
About MultiChoice Africa
MultiChoice Africa is a video entertainment provider, and our role is to enrich lives. Our mission is to deliver value to our customers by making great entertainment more accessible to millions of people across Africa – anytime, anywhere via multiple platforms including Direct-To-Home satellite (DTH) platform - DStv (www.dstv.com ), a Digital Terrestrial Television (DTT) platform - GOtv (www.gotvafrica.com ) as well as Video-On-Demand and OTT platforms Showmax and DStv Now. Whether it’s local telenovelas, the excitement of world-class sport or the latest global blockbusters, our investment in leading-edge content and technology systems deliver the shows that people love into their hands and homes. Born and bred in Africa, MultiChoice Africa is managed and run by local people with a team of more than 2750 full-time and over 14 000 contractors and independent agencies and accredited installers who collectively deliver the greatest entertainment in the world to more than 49 countries across Sub-Saharan Africa. Our business has grown hand-in-hand with local economies by forging long-term partnerships with governments, national broadcasters and entrepreneurs and as the continent’s leading funder of sport and local productions, we’ve built skills and capacity to improve the quality of content we offer through our flagship corporate shared value initiative, MultiChoice Talent Factory (MTF) (www.multichoicetalentfactory.com ). It’s by creating value for our customers, our employees and society that we will continue to build a successful business for the future. Visit www.multichoiceafrica.com for more information.
Irdeto is the world leader in digital platform security, protecting platforms and applications for video entertainment, video games, connected transport and IoT connected industries. Irdeto’s solutions and services enable customers to protect their revenue, create new offerings and fight cybercrime. With 50 years of expertise in security, Irdeto’s software security technology and cyberservices protect over 5 billion devices and applications for some of the world’s best-known brands. With a unique heritage in security innovation, Irdeto is the well-established and reliable partner to build a secure future where people can embrace connectivity without fear. Please visit Irdeto at www.irdeto.com .
Joe Heshu, Group Executive of Corporate Affairs
Information om Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Følg pressemeddelelser fra Business Wire
Skriv dig op her, og modtag pressemeddelelser på e-mail. Indtast din e-mail, klik på abonner, og følg instruktionerne i den udsendte e-mail.
Flere pressemeddelelser fra Business Wire
NY-INTERNATIONAL-FLAVORS18.4.2019 22:17:09 CEST | Pressemeddelelse
IFF to Release First Quarter 2019 Results May 6
CA-GILEAD-SCIENCES18.4.2019 22:07:08 CEST | Pressemeddelelse
Gilead Sciences to Release First Quarter 2019 Financial Results on Thursday, May 2, 2019
TX-ACELITY18.4.2019 15:02:13 CEST | Pressemeddelelse
KCI Files Registration Statement for Proposed Initial Public Offering
WA-AMAZON.COM/GOOGLE18.4.2019 15:02:03 CEST | Pressemeddelelse
Amazon and Google Announce Official YouTube Apps to Launch on Fire TV; Prime Video App Coming to Chromecast and Android TV
EUROPEAN-MORTGAGE18.4.2019 14:08:09 CEST | Pressemeddelelse
Strasbourg Approves the Covered Bond Legislative Package: a Milestone for the Future of the Industry and the Capital Markets Union
TX-SCHLUMBERGER-LIMITED18.4.2019 13:02:05 CEST | Pressemeddelelse
Schlumberger Announces First-Quarter 2019 Results
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter samt finde vores kontaktoplysninger.Besøg vores nyhedsrum