MTN
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MTN - MTN Group Limited - Media release: Response to the MTN Zakhele BEE public
offer exceeds expectations
MTN Group Limited
(Incorporated in the Republic of South Africa)
Registration Number 1994/009584/06
Share code: MTN
ISIN: ZAE000042164
("MTN Group" or "MTN")
MEDIA RELEASE
RESPONSE TO THE MTN ZAKHELE BEE PUBLIC OFFER EXCEEDS EXPECTATIONS
Response to the MTN Zakhele Offer has significantly exceeded expectations. In
terms of the MTN Zakhele Offer, which closed at 16h00 on 14 October 2010, an
invitation was made to the Black public (individuals and groups) to subscribe
for approximately R1,6 billion worth of shares in MTN Zakhele.
The offer was more than 1.7 times subscribed and raised approximately R2.8
billion from more than 124,000 applicants from across South Africa. The majority
of the applications were received in the last few days and the smooth running of
the process bears testament to the South African Post Office collection process.
MTN sought to achieve a broad-based transaction that benefits all qualifying
South Africans and was evidenced by the applications received, with more than
95% of applications received from individuals.
MTN Group President and CEO, Phuthuma Nhleko said: "The goal of MTN was to
create a truly broad-based empowerment transaction that would allow ordinary
qualifying South Africans to become shareholders in MTN (through MTN Zakhele).
The success of the MTN Zakhele Offer has been overwhelming and represents the
first step by qualifying South Africans towards building their future with MTN
Zakhele Shares".
Since the closing of the offer, a detailed process of reconciliation has begun
to ensure that due process is followed during the finalisation of all
applications. MTN believes that broad-based BEE participation is important to
its future success, and in order to ensure this is achieved, the Group has
designed an allocation model that will ensure fair treatment of all applicants
with a priority for individuals.
As stated in the MTN Zakhele prospectus, where the full application cannot be
met, the applicant will receive a refund of the relevant amount by electronic
funds transfer back into the applicant`s specified transactional bank account
with interest calculated from the closing date of 14 October 2010, as soon as
practicable after finalisation of the allocation process.
MTN Zakhele is committed to running an efficient allocation process and will
endeavour to advise all applicants of their allocation as soon as possible. MTN
Zakhele will send all new shareholders a "welcome pack" that will contain a
specific share allocation notice, as well as information relating to MTN
Zakhele, rights and responsibilities as new shareholders, and other important
administrative information. Please call the MTN Call Centre on 083 173 and
choose option 7 if you have any questions about the status of your application.
MTN would like to thank every qualifying South African for taking this
opportunity to build their future with MTN Zakhele Shares.
Fairland
21 October 2010
Sponsor
Deutsche Securities (SA) (Pty) Limited
Date: 21/10/2010 09:22:01 Produced by the JSE SENS Department.
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