MTN
MTN
MTN - The National Empowerment Fund Trust - NEF announces Asongwe Share Scheme
offer price
The National Empowerment Fund Trust
(established by Act 105 of 1998) IT 10145/00
A member of the dti group
("NEF")
NEF announces Asongwe Share Scheme offer price
The NEF is an agency of the Department of Trade and Industry of the Republic of
South Africa. The mandate of the NEF is to facilitate the redressing of economic
inequality which resulted from past unfair discrimination on the basis of race
against Black people in South Africa.
The National Empowerment Fund ("NEF") will launch an offer to sell approximately
11.7 million MTN shares to Black individuals and Savings and/or investment
groups under the Asonge Share Scheme. The offer opens at 08:00 on 23 July 2007
and closes at 12:00 on 16 August 2007.
The price of the offer is set at R79.61 per share, which is 20% discount to
R99.51 (30 day VWAP at close of trade on 20 July 2007). However, should the MTN
share price decline below R99.51 on close of trade on 16 August 2007 ("trade day
on the closing of the offer"), the shares will be sold at a 20% discount to the
day`s closing share price on 16 August 2007.
Investors into the NEF Asonge Share Scheme are locked in for a minimum period of
12 months. In order to encourage investors in the Asonge Share Scheme to hold
their MTN shares after expiry of the lock up period, investors will receive an
extra share for every 10 held if they hold their MTN shares for the next 12
months.
Further information regarding the Asonge Share Scheme can be obtained from the
NEF call center on 0860 123 633.
Morningside
23 July 2007
Date: 23/07/2007 13:37:01 Produced by the JSE SENS Department. |