Remgro Shareholders to Receive eMedia Holdings Shares 

Remgro is realigning its investment portfolio with a focus on long-term shareholder value. The company regularly reviews its holdings to ensure they reflect the right level of maturity, independence, and scale within the broader portfolio. 

As part of this process, Remgro will restructure its investment in eMedia Investments Proprietary Limited (EMI), the primary asset of eMedia Holdings Ltd (EMH).

Unlocking Shareholder Value

To achieve this, Remgro will unbundle its EMH  shares to shareholders, unlocking value currently obscured by the discount at which Remgro trades relative to its net asset value. The unbundling will also give shareholders greater flexibility to decide their own exposure to EMH, rather than holding it indirectly through Remgro. 

eMedia explains that, “Currently, EMH holds the majority of the shares (approximately 67.69%) in its operating subsidiary, EMI, while Venfin holds the remainder of such shares (approximately 32.31%). The proposed transaction will materially enhance EMH's scale by consolidating 100% ownership of EMI under the listed entity, and ensure that EMH has independent and full control over EMI's long-term strategic direction.” 

“Remgro is confident in EMH's long-term growth prospects, which are underpinned by a strong and experienced management team, but believes it would be optimal for EMH, in future, to have independent and full control over EMI's long-term strategic direction,”  said Remgro.

Transaction Details

Following implementation of the Transaction Agreement, which is expected to take place 12 September 2025, Remgro will distribute the 238,472,945 EMH N Shares it holds, equal to 35% of EMH’s issued shares, on a pro-rata basis.

• Shareholders will receive 41.96 EMH N Shares for every 100 Remgro ordinary shares.

Key Dates for Shareholders

As these shares are listed on the JSE, shareholders will gain a direct, tradable interest in EMH, enabling them to manage their investment more effectively while benefitting from the unbundling.

• The last day to trade in order to participate in the unbundling is 22 September 2025.
• The distribution of the Unbundling Shares to Remgro shareholders is scheduled for 29 September 2025.

This unbundling allows investors to engage more directly with EMH’s strategy, benefit from its focused media portfolio, and participate in future corporate actions. It also gives shareholders greater flexibility to manage their exposure in line with their individual investment objectives while leveraging the track record of an experienced management team.

Investors may want to look at how both Remgro and EMH trade after the unbundling, as Remgro’s price will adjust to reflect the distribution. The combined value of both holdings will be key, while EMH’s liquidity, valuation, and growth outlook deserve close attention. Tracking the key transaction dates is also important to qualify for the share distribution and reassess the investment strategy once the new EMH shares are received.

Sources – EasyResearch.

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