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Statement on the Nigeria Communications Commission (NCC) fine and further cautionary announcement by MTNH
MOBILE TELEPHONE NETWORKS HOLDINGS PROPRIETARY LIMITED
Incorporated in the Republic of South Africa
(Registration number 1993/001411/07)
Instrument Code: MTN04 ISIN: ZAG000078619
(“MTNH”) or (“the Company”)
Statement on the Nigeria Communications Commission (NCC) fine and
further cautionary announcement by MTNH
Further to the Stock Exchange News Service (“SENS”) announcement issued
on 03 November 2015 by MTN Group Limited (“MTN Group” or “the Group”)
regarding the above subject, MTNH wishes to advise noteholders as
follows:
MTN Group has clarified and placed on record that it continues to engage
constructively with Nigerian authorities at all levels.
The Group has noted, with concern, however, the speculation and false
information in the media. MTN Group particularly cautioned against
reports purporting that it has agreed a resolution with the NCC on the
fine. The Group advised that these reports are false as no resolution
has yet been reached. MTN Group continues to engage the authorities in
Nigeria on this matter.
To this end, all stakeholders of the Group are reminded that MTN Group
and the Company will inform them of any material developments in our
engagements with Nigerian authorities via SENS. Noteholders are also
asked to exercise caution when reacting to information that has not been
released by MTN Group or by the Company.
It is also important to note that MTN Group has operated in Nigeria for
over a decade. In this time, and as in the other markets where MTN Group
has a presence, it has conducted its business in accordance with
established principles related to sound corporate governance.
As a group which owes its founding and growth to the emerging world, MTN
Group is conscious of its responsibility to invest in the growth of
local economies and development of communities wherever it operates.
Nigeria is no different. Since launching more than a decade ago, MTN
Group has made significant investments in connecting customers to its
network and takes its responsibilities and obligations very seriously.
In conducting its business, MTN Group is always mindful that its growth
has not only been due to the success of its commercial propositions. MTN
Group therefore remains committed to maintaining solid partnerships with
regulators, governments, communities and our markets, including in
Nigeria, to build a sustainable industry that contributes to the growth
of local economies.
Noteholders are therefore advised to continue to exercise caution when
dealing in the Company’s securities until a further announcement is
made.
Fairland
4 November 2015
Debt Sponsor
The Standard Bank of South Africa Limited
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