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Listing of YeboYethu Limited on the JSE Securities Exchange
YeboYethu Limited
(to be renamed YeboYethu (RF) Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2008/014734/06)
Share code: YYLBEE ISIN ZAE000218483
("YeboYethu”)
LISTING OF YEBOYETHU LIMITED ON THE JSE SECURITIES EXCHANGE
1. Introduction
The JSE Limited ("JSE") has granted approval to YeboYethu to list a maximum of 14 395 300
YeboYethu ordinary shares as asset backed securities on the Black Economic Empowerment
Segment in the telecommunications sector of the main board of the JSE ("BEE Segment")
under the full name “YeboYethu Limited” with the abbreviated name of “YeboYethu”
(the JSE alpha code will be “YYLBEE” and the ISIN will be ZAE000218483). It is anticipated
that the YeboYethu listing will be effective as from the commencement of trade on
Thursday 11 August 2016.
YeboYethu will list on the BEE Segment and will use a BEE verification agent as contemplated
in the Listings Requirements. The YeboYethu ordinary shares will only be traded on the JSE in
dematerialised form and accordingly all YeboYethu ordinary shares currently held in certificated
form will be converted into dematerialised form pursuant to the bulk dematerialisation (save for
those YeboYethu ordinary shares to be held by YeboYethu shareholders who elect to
rematerialise their YeboYethu ordinary shares).
The full YeboYethu pre-listing statement dated Tuesday 12 July 2016 is available on
YeboYethu’s website (www.yeboyethu.co.za).
2. Background information on YeboYethu
YeboYethu was incorporated on 19 June 2008 as a single purpose vehicle to hold a direct
investment in Vodacom (Proprietary) Limited ("Vodacom SA") and facilitate BEE in the mobile
telecommunications sector. Since YeboYethu's incorporation, over 100 000 black people have
been able to hold, through investing in YeboYethu shares, a beneficial interest in Vodacom SA,
South Africa’s largest mobile communications operator (by customer and revenue).
YeboYethu issued 14 400 000 ordinary shares to the black public and 12 000 000 convertible
N shares to Vodacom SA's employee share incentive trust. 14 400 000 YeboYethu ordinary
shares were offered at R25 each to the black public and black business partners of Vodacom
SA pursuant to the initial public offering in 2008. As a result of the public offer, approximately
102 000 qualifying black investors became YeboYethu ordinary shareholders. The Vodacom SA
BEE transaction was, at the time of the implementation of the abovementioned transaction
("Vodacom SA BEE Transaction"), one of South Africa’s largest empowerment schemes in the
telecommunications industry. The Vodacom SA BEE Transaction, valued at approximately
R7.5 billion, was concluded as part of Vodacom SA’s on-going efforts to further its BEE
objectives in South Africa, and in particular, resulted in YeboYethu owning a maximum of 3.44%
of Vodacom SA.
For the avoidance of doubt, YeboYethu does not own nor have any beneficial interests in nor
rights to Vodacom Group Limited shares.
3. Rationale for the BEE listing
The main rationale for implementing the BEE listing is to provide the YeboYethu shareholders
with regulatory certainty regarding their ability to continue trading in YeboYethu ordinary shares.
As a result of regulatory changes implemented by the Financial Services Board in 2014, it will
no longer be possible to continue trading YeboYethu ordinary shares on the over-the-counter
("OTC") trading platform without seeking an exchange licence.
The BEE listing will provide YeboYethu shareholders with the following additional advantages:
• an anticipated enhanced liquidity in comparison to the OTC trading platform due to the
wider access that buyers and sellers will have to professional broking services of JSE
members;
• easier price discovery as JSE prices are published in most major print and electronic
financial publications; and
• increased investor protection as a result of:
o the JSE being a regulated market;
o the segregation of duties between order taking, matching, settlement and
custody of securities and cash;
o monitoring of insider trading and price manipulation; and
o monitoring of false and misleading reporting.
4. Incorporation information for YeboYethu
YeboYethu Limited, registration number 2008/014734/06, is a public company incorporated on
19 June 2008 in Pretoria, in accordance with the laws of the Republic of South Africa (to be
renamed YeboYethu (RF) Limited).
5. Information on YeboYethu directors
The names and business addresses of the directors of YeboYethu on the date of the BEE listing
are set out below.
Name Capacity Address
Zarina Bibi Mahomed Bassa Independent non- The Place, 1 Sandton Drive,
executive director and Sandton 2196
Chairman of the
YeboYethu board
Deenadayalen Konar Independent non- 52 Corlett Drive, Wanderers Office
executive director Park, Grant Thornton Building,
Illovo 2196
Seth Malefetsane Radebe Independent non- 5 Carnation Street, Gallo Manor Ext
executive director 2, Sandton 2052
Adele Mary Hall Independent non- 39 Meredy Street, Randhart,
executive director Alberton 1449
Tlhabeli Christopher Ralebitso Non-executive director Vodacom Corporate Park, 082
Vodacom Boulevard, Midrand 1685
Vuyani Jarana Non-executive director Vodacom Corporate Park, 082
Vodacom Boulevard, Midrand 1685
6. Share capital of YeboYethu
The authorised and issued shares of YeboYethu as at the date of the YeboYethu pre-listing
statement are set out below:
2016 2015 2014
Authorised
40 000 000 YeboYethu ordinary shares R400 R400 R400
(R0.00001 each)
Issued
Opening balance at beginning of year R144 R144 R144
14 400 000 YeboYethu
ordinary shares at R0.00001 each
Less repurchase: nil (2015: nil, 2014: 400) - - *
YeboYethu ordinary shares
at R0.00001 each
Closing balance issued YeboYethu R144 R144 R144
ordinary share capital
(*) Less than R1.
YeboYethu did not repurchase any YeboYethu ordinary shares during the 2016 and 2015 financial years, but repurchased 400
YeboYethu ordinary shares in 2014.
This announcement does not constitute nor form part of any offer for sale, subscription of nor
solicitation to buy or subscribe for any securities, and neither this announcement nor any part of
it shall form the basis of or be relied on in connection with or act as an inducement to enter into
any contract or commitment whatsoever.
This announcement is not a prospectus. Potential investors should not purchase any
YeboYethu ordinary shares except on the basis of information contained in the full YeboYethu
pre-listing statement, dated Tuesday 12 July 2016, published by YeboYethu in connection with
the listing of the YeboYethu ordinary shares as asset backed securities on the BEE Segment.
The information in this announcement has been extracted from the full YeboYethu pre-listing
statement issued by YeboYethu, dated Tuesday 12 July 2016. For further information relating to
YeboYethu and its listing, by way of an introduction of all of the YeboYethu ordinary shares as
asset backed securities on the BEE Segment of the main board of the JSE in the “Specialist
Securities – Other Securities” sector, the full YeboYethu pre-listing statement should be read in
its entirety.
The full YeboYethu pre-listing statement dated Tuesday 12 July 2016 is available on
YeboYethu’s website (www.yeboyethu.co.za) and copies may be viewed at the offices of the
transfer secretaries, Link Market Services Proprietary Limited, during normal business hours
(excluding Saturdays, Sundays and South African public holidays) from Tuesday 12 July 2016
until Wednesday 10 August 2016.
The registered office of Link Market Services South Africa Proprietary Limited:
13th Floor, Rennie House
19 Ameshoff Street
Braamfontein, 2001
Midrand
12 July 2016
Financial adviser and sponsor: UBS South Africa (Pty) Limited
Legal adviser: Cliffe Dekker Hofmeyr Incorporated
Date: 12/07/2016 02:00:00 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
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