TELKOM SA SOC LIMITED - Announcement

Announcement

Telkom SA SOC LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1991/0054776/30)
JSE CODE: TKG
ISIN CODE: ZAE000044897
(“Telkom” or “the Company”)


ANNOUNCEMENT


Telkom shareholders are advised that Telkom has received a Compliance Notice from the
Companies and Intellectual Property Commission (“the CIPC”) relating to the granting of an
interest free loan by Telkom to Mr J Schindehütte during November 2013 (“the Loan”).

CIPC has notified Telkom that it believes that the Company has contravened Sections 44
and 45 of the Companies Act No. 71 of 2008 (“the Act”) as the payment of the Loan was
authorised prematurely and prior to the board of directors of Telkom passing the necessary
precursory financial assistance resolutions.

The Compliance Notice requires Telkom to do the following:

   -   Update the Commissioner of the CIPC on a monthly basis on the progress made in
       recovering the loan amount from Mr J Schindehütte;
   -   Mr S Maseko to attend a corporate governance and a director duties course within 90
       business days from the date of the Compliance Notice; and
   -   Inform shareholders of the contents of the Compliance Notice.

Telkom has confirmed to the CIPC that the full amount of the loan has already been
recovered from Mr. Schindehütte.

Mr Maseko has noted the directive to attend a corporate governance and a director duties
course and shall make the necessary arrangements to attend such training within the
stipulated timeframe.

A copy of the Compliance Notice has been provided to the Independent Communications
Authority of South Africa, in line with Section 171(3) of the Act.


Pretoria
24 February 2014

Sponsor
The Standard Bank of South Africa Limited

Date: 24/02/2014 02:45:00 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.