Johannesburg - The offer period for MTN's new Broad-Based Black Economic Empowerment (BBBEE) scheme, called MTN Zakhele Futhi, opened at 09H00 today. It will close at 16H00 on 21 October 2016.
Black South African individuals and groups are invited to apply for up to 123,416,819 ordinary shares in MTN Zakhele Futhi (RF) Limited at R20.00 per MTN Zakhele Futhi share. The minimum investment amount required to apply for MTN Zakhele Futhi shares is R2000.
MTN Zakhele Futhi is MTN's new BBBEE scheme which the company proposes to put in place when its existing BBBEE scheme, MTN Zakhele (launched in 2010), unwinds on 24 November 2016.
The new MTN empowerment scheme affords qualifying individuals and groups the opportunity to apply for shares in MTN Zakhele Futhi (RF) Limited. In turn, MTN Zakhele Futhi (RF) Limited proposes to acquire shares in MTN at an effective 20% discount to the transaction price. The MTN Zakhele Futhi scheme is potentially valued at up to R9.9 billion, and is envisaged to hold approximately 4% equity in MTN Group.
Copies of the registered MTN Zakhele Futhi prospectus, with all the details about the offer, are available from today at participating Nedbank branches and participating MTN stores around the country, as well as online by visiting www.mtn.com/zakhelefuthi.
The MTN Zakhele Futhi prospectus is also being issued for the purpose of giving existing MTN Zakhele shareholders information about the MTN Zakhele Re-investment Offer. The MTN Zakhele Re-investment Offer is one of the options available to existing MTN Zakhele shareholders to elect and, if allocated, receive MTN Zakhele Futhi shares at R20,00 per share in consideration for the buyback of their MTN Zakhele shares under the MTN Zakhele Unwinding Scheme. The terms, conditions and details of the MTN Zakhele Re-investment Offer and the MTN Zakhele Unwinding Scheme are set out in the circular to MTN Zakhele shareholders and the prospectus, copies of which circular are available at www.mtnz.co.za.
Speaking at the launch of the MTN Zakhele Futhi Offer in Johannesburg today, MTN South Africa CEO Mteto Nyati said MTN is fundamentally committed to transformation and empowerment in South Africa.
'The MTN Zakhele Futhi offer is designed to provide the black public with an opportunity for exposure to MTN's geographically diversified operations, earnings and growth markets'.
He added that MTN's transformation journey spans more than two decades during which the company has sought to benefit hundreds of thousands of black South Africans and groups through empowerment initiatives such as the MTN Asonge and MTN Zakhele BEE schemes. These schemes, explained Nyati, have augmented MTN's other on-going transformation programmes in the areas of enterprise development, preferential procurement and employment equity - including the various employee share schemes. Another employee share scheme has also been proposed for 2016.
Details of the roadshows to inform the public about MTN Zakhele Futhi, and how they can participate, are set out below:
DATE | DAY | PROVINCE | TOWN | Venue |
17 Sep | Sat | Gauteng | Johannesburg | Johannesburg City Hall (10h00, 13h00) |
19 Sep | Mon | Gauteng | Pretoria CBD | Ditsong Museum of South Africa(12h00, 17h00) |
20Sep | Tue | North West | Rustenburg | Olympia Park Stadium (12h00, 17h00) |
23 Sep | Fri | North West | Mahikeng | Mmabatho Civic Centre(12h00, 17h00) |
26 Sep | Mon | Free State | Welkom | Thabong Community Centre 12h00, 17h00) |
27 Sep | Tue | Northern Cape | Kimberley | Kimberley City Hall (12h00, 17h00) |
28 Sep | Wed | Free State | Bloemfontein | Bloemfontein City Hall (12h00, 17h00) |
29 Sep | Thu | Western Cape | Cape Town: Gugulethu | Ikwezi Recreational Centre (12h00, 17h00) |
03 Oct | Mon | Limpopo | Thohoyandou | Indoor Sports Centre (12h00, 17h00) |
04 Oct | Tue | Limpopo | Polokwane | Jack Botes Hall (12h00, 17h00) |
05 Oct | Wed | Mpumalanga | Emalahleni | Emalahleni City Hall (12h00, 17h00) |
06 Oct | Thu | Mpumalanga | Nelspruit | KaNyamazane Community Hall (12h00, 17h00) |
10 Oct | Mon | Eastern Cape | East London | Cambridge Town Hall (12h00, 17h00) |
13 Oct | Thu | Eastern Cape | Port Elizabeth | Nangoze Jebe Hall (Centenary Hall) (12h00, 17h00) |
17 Oct | Mon | KZN | Durban | Moses Mabhida Stadium (12h00, 17h00) |
18 Oct | Tue | KZN | Pietermaritzburg | PMB City Hall (12h00, 17h00) |
The information in this media release does not constitute an offer or a prospectus in respect of an offer. A copy of the registered prospectus issued by MTN Zakhele Futhi (RF) Limited can be downloaded from the website www.mtn.com/zakhelefuthi or obtained from Monday, the 12th of September 2016 from any participating Nedbank branch or any participating MTN store. Applying for shares in MTN Zakhele Futhi does not guarantee that an applicant will be allocated shares in MTN Zakhele Futhi. MTN Zakhele Futhi reserves the right to accept or reject any application as it determines in its sole discretion.
- Issued by MTN Group Corporate Affairs
About the MTN Group
Launched in 1994, the MTN Group is a leading emerging market operator, connecting subscribers in 22 countries in Africa, Asia and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: 'MTN.' As of 30 June 2016, MTN recorded 232.6 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Cote d'Ivoire, Cyprus, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo-Brazzaville), Rwanda, South Africa, Sudan, South Sudan, Swaziland, Syria, Uganda, Yemen and Zambia. Visit us at, www.mtnbusiness.com and www.mtnb.com
For more information, please contact: Xolisa Vapi on +27 83 200 4363 email xolisa.vapi@mtn.com or mtngrouppressoffice@mtn.com.
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MTN Group Ltd. published this content on 12 September 2016 and is solely responsible for the information contained herein.
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Original documenthttps://www.mtn.com/Media/Pages/pressreleasedetail.aspx?pid=342&country=South Africa&year=2016
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