MTN
MTN
MTN Group - Posting of offer document and fulfillment of pre-conditions
MTN Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1994/009584/06)
(Share code: MTN)
(ISIN code: ZAE000042164)
("MTN Group" or the "Company")
PROPOSED TRANSACTION WITH SHAREHOLDERS OF INVESTCOM LLC - FULFILMENT OF THE PRE-
CONDITIONS AND OPENING OF THE OFFER TO THE SHAREHOLDERS OF INVESTCOM LLC
1. FULFILMENT OF THE PRE-CONDITIONS
Shareholders are referred to the SENS announcement dated 2 May 2006
regarding MTN Group"s proposed offer to Investcom LLC ("Investcom")
shareholders to acquire the entire issued share capital of Investcom ("the
Offer" or "the Proposed Transaction"). Shareholders are advised that all
the pre-conditions to making the Offer set out to in the aforementioned
announcement have been fulfilled.
2. OPENING OF THE OFFER
The Offer Document setting out the terms of the Offer has been approved by
the Dubai Financial Services Authority and the Offer Document was posted to
Investcom"s shareholders yesterday. The Offer is now capable of acceptance
by Investcom shareholders.
The Offer is still subject to the approval by MTN shareholders.
A copy of the Offer Document is available electronically on the MTN Group
website, www.mtn.co.za. It is also available on the websites of Investcom
and the Dubai International Financial Exchange.
3. CIRCULAR TO SHAREHOLDERS
The circular to MTN Group shareholders will be posted shortly containing
full details of the Proposed Transaction and to seek shareholder approval
of the Proposed Transaction.
Johannesburg
24 May 2006
Joint financial adviser and transaction sponsor
Deutsche Securities (SA) (Proprietary) Limited
Member of the Deutsche Bank Group
Joint financial adviser
First Africa (SA) (Proprietary). Limited
South African legal adviser
Webber Wentzel Bowens
International legal advisers
Freshfields Bruckhaus Deringer
Sponsor
Merrill Lynch South Africa (Proprietary) Limited
Date: 24/05/2006 12:39:43 PM Produced by the JSE SENS Department
|