MTN GROUP LIMITED - The Nigerian Communications Commission reduces imposed fine to US$3.4 billion equivalent and further cautionary

The Nigerian Communications Commission reduces imposed fine to US$3.4 billion equivalent and further cautionary

MTN Group Limited
(Incorporated in the Republic of South Africa)
Registration number: 1994/009584/06
ISIN: ZAE000042164
Share code: MTN
(“MTN” or the “Company”)

The Nigerian Communications Commission (NCC) reduces imposed fine to US$3.4
billion equivalent and further cautionary announcement

Shareholders are advised that, after further engagements with the Nigerian
Authorities, the NCC has reduced the imposed fine.

MTN has received a formal letter dated 2 December 2015 from the NCC informing
the Company that, after considering the Company’s request, it has taken the decision
to reduce the fine on the MTN Nigerian business from the original
N1,040,000,000,000 (One Trillion, Forty Billion Naira) to N674 Billion Naira which has
to be paid by 31 December 2015. The fine relates to the late disconnecting of 5.1
million MTN Nigerian subscribers in August and September 2015.

The Company is carefully considering the NCC’s reply, however the Executive
Chairman Phuthuma Nhleko will immediately and urgently re-engage with the
Nigerian Authorities before responding formally, as it is essential for the Company to
follow due process to ensure the best outcome for the Company, its stakeholders
and the Nigerian Authorities and accordingly all factors having a bearing on the
situation will be thoroughly and carefully considered before the Company arrives at a
final decision.

Shareholders are therefore advised to continue to exercise caution when dealing in
the Company’s securities until a further announcement is made.


Fairland
03 December 2015

Sponsor
Deutsche Securities (SA) Proprietary Limited

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