Naspers Limited: Press Related to Tencent

Rhea-AI Summary

Naspers Limited (NPN) addresses recent speculative claims regarding a potential sale of its Tencent shares to a CITIC-led group, labeling the article as untrue. Naspers continues its share repurchase program initiated in June 2022, funded by orderly sales of Tencent shares. The board maintains confidence in Tencent's long-term prospects, asserting that the repurchase is in the best interests of shareholders. Established in 1915, Naspers is a major player in global consumer internet investments, focusing on technology sectors in South Africa.

Positive

• Naspers continues its share repurchase program initiated in June 2022, enhancing shareholder value.
• The board expresses strong confidence in Tencent's long-term prospects.

Negative

• Speculative claims about the sale of Tencent shares could create market uncertainty.

CAPE TOWN, South Africa--(BUSINESS WIRE)-- Naspers Limited ("Naspers") (JSE: NPN): Shareholders are referred to article published on 31 October 2022 by Asian Tech Press. The article claims that a CITIC-lead group (a Chinese stated-owned investment company) is in talks with Naspers to buy all the Tencent shares owned by the Group.

The article is speculative and untrue.

The Group continues with its open-ended share repurchase programme announced in June this year which is funded by the sale of small numbers of ordinary shares in Tencent Holdings Limited (“Tencent”) held by the Group (“Tencent Shares”) regularly and in an orderly manner.

The Naspers Board and Prosus Board reiterate their continued confidence in Tencent's long term prospects and continue to believe that the share repurchase programme, is in the best interests of Prosus, Naspers and their respective shareholders.

JSE sponsor to Naspers
Investec Bank Limited

About Naspers

Established in 1915, Naspers has transformed itself to become a global consumer internet company and one of the largest technology investors in the world. Through Prosus, the group operates and invests globally in markets with long-term growth potential, building leading consumer internet companies that empower people and enrich communities. Prosus has its primary listing on Euronext Amsterdam and a secondary listing on the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus.

In South Africa, Naspers is one of the foremost investors in the technology sector and is committed to building its internet and ecommerce companies in the country. These include Takealot, Mr D Food, Superbalist, Autotrader, Property24 and PayU, in addition to Media24, South Africa’s leading print and digital media business.

Naspers has a primary listing on the Johannesburg Stock Exchange (NPN.SJ) and a secondary listing on the A2X Exchange (NPN.AJ) in South Africa and has a level 1 American Depository Receipt (ADR) programme which trades on an over-the-counter basis in the US.

For more information, please visit www.naspers.com.

Naspers Foundry

Naspers is focused on stimulating South Africa’s local tech sector through Naspers Foundry. This is a R1.4 billion investment vehicle that invests in early-stage technology companies that seek to address big societal needs.

Naspers Labs

In 2019, Naspers Labs, a youth development programme designed to transform and launch South Africa’s unemployed youth into economic activity, was launched. Naspers Labs focuses on digital skills and training, enabling young people to pursue tech careers.

Naspers for Good

Naspers employees are equally committed to giving back. Naspers for Good is a corporate philanthropy fund administered by a committee of employees in South Africa. Through the fund, Naspers forms partnerships with organisations that have a proven track record of delivering solutions for the most pressing challenges affecting our communities. Email causes@naspers.com for more information.

Response to COVID-19

Naspers contributed R1.5 billion of emergency aid to support the South African government’s response to the COVID-19 pandemic. This contribution consisted of R500 million towards the Solidarity Fund, and R1 billion worth of PPE sourced and distributed to South Africa’s front-line healthcare workers. In addition, Naspers contributed R6.9 million to the Nelson Mandela Foundation’s EachOne FeedOne programme to support families impacted by COVID-19 with meals for a year.

Disclaimer

The Repurchase Programme is being conducted in accordance with Articles 5(1) and 5(3) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (“Market Abuse Regulation”) and Articles 2 to 4 of Commission Delegated Regulation (EU) 2016/1052 supplementing the Market Abuse Regulation with regard to regulatory technical standards for the conditions applicable to buy-back programmes and stabilisation measures (the “Delegated Regulation”). This document is issued in connection with the disclosure and reporting obligation set out in Article 2(1) of the Delegated Regulation.

This document contains information that qualifies as inside information within the meaning of Article 7(1) of the Market Abuse Regulation.

This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.

The information contained in this announcement may contain forward-looking statements, estimates and projections. Forward-looking statements involve all matters that are not historical and may be identified by the words “anticipate”, ”believe”, ”estimate”, ”expect”, ”intend”, ”may”, ”should”, ”will”, ”would” and similar expressions or their negatives, but the absence of these words does not necessarily mean that a statement is not forward-looking. These statements reflect Prosus’s intentions, beliefs or current expectations, involve elements of subjective judgement and analysis and are based upon the best judgement of Prosus as of the date of this announcement, but could prove to be wrong. These statements are subject to change without notice and are based on a number of assumptions and entail known and unknown risks and uncertainties. Therefore, you should not rely on these forward-looking statements as a prediction of actual results.

Any forward-looking statements are made only as of the date of this announcement and neither Prosus nor any other person gives any undertaking, or is under any obligation, to update these forward-looking statements for events or circumstances that occur subsequent to the date of this announcement or to update or keep current any of the information contained herein, any changes in assumptions or changes in factors affecting these statements and this announcement is not a representation by Prosus or any other person that they will do so, except to the extent required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221101005704/en/

Enquiries

Investor Enquiries

Eoin Ryan, Head of Investor Relations

+1 347-210-4305

Media Enquiries

Shamiela Letsoalo, Media Relations Director

+ 27 78 802 6310

Source: Naspers Limited

FAQ

What recent claims were made about Naspers and Tencent?

Naspers refuted claims that a CITIC-led group is in talks to buy its Tencent shares.

Is Naspers still conducting its share repurchase program?

Yes, Naspers continues its share repurchase program as announced in June 2022.

What is Naspers' outlook on Tencent's performance?

Naspers' board remains confident in Tencent's long-term prospects.

When was the article that sparked speculation about Naspers published?

The article was published on 31 October 2022.

What stock symbol should I look for Naspers?

Naspers is listed under the stock symbol NPSNY.