MTN
MTN
MTN - MTN Group Limited - Fulfilment of Conditions Precedent and Implementation
of the Acquisition of Newshelf 664 (Proprietary) Limited
MTN Group Limited
(Incorporated in the Republic of South Africa)
Registration number 1994/009584/06
Share code: MTN & ISIN: ZAE000042164
("MTN")
FULFILMENT OF CONDITIONS PRECEDENT AND IMPLEMENTATION OF THE ACQUISITION OF
NEWSHELF 664 (PROPRIETARY) LIMITED
MTN shareholders are hereby advised that all of the outstanding conditions
precedent for the acquisition of Newshelf 664 (Proprietary) Limited ("Newshelf")
by MTN from the Alpine Trust, the acquisition and settlement by MTN of the
funding obligations due to the Public Investment Corporation Limited ("PIC") by
Newshelf and the specific repurchase by MTN of the 243 500 011 MTN ordinary
shares held by Newshelf ("Newshelf Acquisition", as further described in the
circular to shareholders dated 6 April 2009) have been met and that the Newshelf
Acquisition was implemented on 25 May 2009.
As a consequence of the implementation of the Newshelf Acquisition, (i) MTN
issued in aggregate 213 866 898 new MTN ordinary shares to the PIC on 25 May
2009, which shares will be listed on the exchange operated by the JSE Limited
("JSE") on 26 May 2009, and (ii) MTN repurchased the 243 500 011 MTN ordinary
shares owned by Newshelf, which shares have been cancelled and will be delisted
from the JSE on 26 May 2009.
Fairland
25 May 2009
Merchant bank and transaction sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Legal and tax advisor to MTN
Webber Wentzel
Legal advisor to MTN`s independent directors
Werksmans Attorneys
Date: 25/05/2009 17:27:32 Produced by the JSE SENS Department.
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