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MTN GROUP LIMITED - Results of Annual General Meeting and Changes to the Board of Directors

Release Date: 28/05/2013 16:19
Code(s): MTN     PDF:  
Wrap Text
Results of Annual General Meeting and Changes to the Board of Directors

MTN Group Limited

(Incorporated in the Republic of South Africa)

(Registration number 1994/009584/06)

(Share code MTN)

(ISIN ZAE000042164)

(“MTN” or “the Group”)


RESULTS OF ANNUAL GENERAL MEETING AND CHANGES TO THE BOARD OF DIRECTORS

Results of Annual General Meeting

Shareholders are advised that, at the Annual General Meeting of MTN held today, 28 May
2013, all the ordinary and special resolutions contained in the notice of the Annual General
Meeting dated 19 April 2013 were passed, without modification, by the requisite majority
votes.

Changes to the Board of Directors

Shareholders are referred to the announcement dated 7 March 2013, regarding Mr Cyril
Ramaphosa’s retirement as non-executive director and Chairman of MTN on 28 May 2013.

It is confirmed that Mr Ramaphosa retired from the Board of MTN (the “Board”) at the
conclusion of the Annual General Meeting. Mr Ramaphosa has served as Chairman of the
MTN Board since 2001 and the Board would like to take this opportunity to thank Mr
Ramaphosa for his support and efforts over the years. His valuable contribution and strong
leadership have been key drivers in the ongoing success of the Group.

Following a comprehensive review by the Board, overseen by the lead independent non-
executive director, Mr Alan van Biljon, the Board is pleased to announce the appointment of
Mr Phuthuma Nhleko as a non-executive director and Chairman of MTN with effect from 29
May 2013.

The Board welcomes the appointment of Mr Nhleko who previously served as a non-
executive director and Chairman of MTN from July 2001 until June 2002 and thereafter as
an executive director as well as Group President and CEO until March 2011. It is the Board’s
belief that Mr Nhleko’s previous association with MTN and his experience in the
telecommunications industry will benefit the Group. Although Mr Nhleko is not an
independent Chairman by virtue of him taking a break of just over two years as the Group
President and CEO, the Board is satisfied that having considered the principles of
governance and King III, the current Board structure, which includes the lead independent
director, will provide the appropriate level of governance for MTN and its shareholders.



Fairland

28 May 2013

Sponsor
Deutsche Securities (SA) Proprietary Limited

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