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TKG - Telkom Limited - Cautionary announcement

Release Date: 14/10/2011 07:15
Code(s): TKG
Wrap Text

TKG - Telkom Limited - Cautionary announcement Telkom Limited (Registration number 1991/005476/06) JSE share code: TKG ISIN: ZAE000044897 ("Telkom" or the "Company") CAUTIONARY ANNOUNCEMENT Shareholders of Telkom are advised that Telkom and KT Corporation (collectively "the Companies") have entered into discussions regarding a potential strategic venture ("Potential Strategic Venture") that would, if implemented, result in KT Corporation acquiring a strategic equity shareholding of 20% in the post-issue ordinary share capital of Telkom (excluding treasury shares reserved for Telkom employees share schemes) ("Potential Equity Investment") and the Companies entering into long-term agreements to formalise the relationship and identified areas of mutual strategic and business cooperation. Should the Potential Strategic Venture be agreed, Telkom and KT Corporation will implement the Potential Equity Investment by way of a specific issue of new Telkom ordinary shares for cash at an issue price of ZAR36.06 per new Telkom ordinary share. Shareholders are advised that whilst the discussions between Telkom and KT Corporation are progressing well, there is no certainty at this stage that these discussions will lead to a formal transaction being proposed or concluded. Shareholders are advised to exercise caution when dealing in the Company`s securities until a further announcement is made. Pretoria 14 October 2011 Lead financial advisor and transaction sponsor to Telkom Deutsche Bank Co-advisor to Telkom Deloitte Legal advisor to Telkom Eversheds Communications advisor to Telkom Capital MCG Sponsor to Telkom UBS South Africa (Pty) Ltd Date: 14/10/2011 07:15:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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