MultiChoice and NBCUniversal Provide $145 Million Funding to Showmax Africa

MultiChoice Group Limited  has released an announcement where the shareholders are referred to the announcement released on SENS on 26 September 2024 wherein shareholders were advised that:

• In accordance with the relevant Showmax Africa Holdings Limited (SMAH) shareholders agreement, MultiChoice Group Holdings B.V (MGHBV), a wholly owned subsidiary of MultiChoice, and NBCUniversal Media,  LLC (NBCU), a subsidiary of Comcast Corporation, agreed to provide funding to SMAH in proportion to their respective shareholdings.
• Equity funding is provided monthly or at other intervals, depending on SMAH’s then current working capital requirements and as may be determined by the board of SMAH for budget purposes, subject to a maximum capped amount.

In accordance with paragraph 9.15 of the JSE Limited Listings Requirements, shareholders are advised that: a. Since 27 September 2024 until the date of this announcement, MGHBV and NBCU have provided, in the aggregate, USD145 million in equity funding to SMAH, each in proportion of their respective shareholdings. Further, MGHBV provided USD800,000 as equity funding to cover MGHBV specific shareholder costs.

b. Financial performance relating to SMAH was disclosed in MultiChoice’s year end results and interim financial statements released on SENS on 12 June 2024 and 12 November 2024, respectively. Further, it is noted that the business is consolidated into the MultiChoice financials in the normal course.

In accordance with paragraph 9.11 of the JSE Limited Listings Requirements, the aggregated equity funding provided since 27 September 2024 to date results in a category 2 transaction, requiring release of this announcement by MultiChoice.