Reuters

Berjaya Media Berhad announced that Net Edge Online Sdn Bhd (Net Edge) has on even date offered, vide its letter dated May 29, 2008 (Letter), to acquire from Gemtech (M) Sdn Bhd (Gemtech) all of Gemtechs 2,800,000 ordinary shares of MYR1.00 each representing 50% of the existing issued and paid up capital of The Edge Communications Sdn Bhd for a total purchase consideration of MYR85 million to be settled and satisfied by way of the transfer to Gemtech or its nominee in the aggregate 170,000,000 units of existing 0% irredeemable convertible unsecured loan stocks 2005/2015 of MYR0.50 nominal amount each in Berjaya Corporation Berhad (ICULS) that Net Edge beneficially owns at the price of MYR0.50 per ICULS (Proposed Offer).