MTN ZAKHELE (RF) LIMITED - Announcement regarding MTN Group Limited cautionary announcement and MTN Zakhele trading update

Announcement regarding MTN Group Limited cautionary announcement and MTN Zakhele trading update

MTN Zakhele (RF) Limited
(Incorporated in South Africa)
(Registration number 2010/004693/06)
Share code: MTNZBE ISIN: ZAE000208526
("MTN Zakhele")


ANNOUNCEMENT REGARDING MTN GROUP LIMITED CAUTIONARY ANNOUNCEMENT AND MTN ZAKHELE
TRADING UPDATE

ANNOUNCEMENT REGARDING MTN GROUP LIMITED CAUTIONARY ANNOUNCEMENT

MTN Zakhele shareholders are referred to the cautionary announcement released by MTN Group Limited
("MTN" or "MTN Group") on 17 December 2015 and, as MTN Zakhele’s only material asset consists of shares
in MTN, MTN Zakhele shareholders should consider the cautionary announcement, as well as subsequent
announcements released by MTN relating thereto, when trading in MTN Zakhele shares.


MTN ZAKHELE TRADING UPDATE


MTN Zakhele Chairperson, Sindi Mabaso-Koyana, says that trade in the MTN Zakhele share has been steadily
progressing since its listing on the Johannesburg Stock Exchange (JSE) on 5 November as more shareholders
and investors go through the necessary registration and verification process in order to trade the BEE share.
"We now have over 8 000 shareholders registered to trade. The closing price on the first day of trade on the
JSE on 5 November was R65, it is now trading in the region of R75," says Mabaso-Koyana. "It still however has
some way to go before we reach the levels it was previously trading at before the listing on the JSE."


MTN Zakhele was established as a vehicle for previously disadvantaged South Africans to invest in MTN, with
shares being made available in 2010 at R20 per share. MTN Zakhele has a 4% stake in MTN Group.


"We are a truly broad-based scheme and the ordinary shares in MTN Zakhele are owned by approximately
102 000 Black investors. We have provided shareholders with a platform to trade their shares on the JSE, one
of the best regulated exchanges in the world, offering them guaranteed settlement in a transparent and
regulated environment. However, as MTN Zakhele's only material asset consists of shares in MTN, we are
obviously affected by the MTN Group share price and the issues that impact this share price. The MTN board
is conscious of the impact that the situation in Nigeria is having on the MTN share price and is working actively
to deal with the matter, including by continuing to seek an amicable resolution to the matter in the best
interests of MTN, its stakeholders and the Nigerian Authorities. The MTN Zakhele board continues to monitor
the situation and to encourage MTN towards its goal of an amicable resolution to the matter."


Johannesburg
18 December 2015

Corporate advisor
Tamela Holdings Proprietary Limited


                                                                                                                    1
Merchant bank and sponsor
RAND MERCHANT BANK (a Division of FirstRand Bank Limited)

Corporate law advisors
Webber Wentzel




                                                            2

Date: 18/12/2015 05:42:00 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.