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MTN GROUP LIMITED - Extension of the MTN Zakhele Futhi offer period to Friday, 28 October 2016

Release Date: 17/10/2016 08:55
Code(s): MTN     PDF:  
Wrap Text
Extension of the MTN Zakhele Futhi offer period to Friday, 28 October 2016

     MTN Group Limited

     (Incorporated in the Republic of South Africa)

     (Registration number 1994/009584/06)

     Share code: MTN ISIN: ZAE000042164

     (“MTN” or the “Company” or the “MTN Group”)

     EXTENSION OF THE MTN ZAKHELE FUTHI OFFER PERIOD TO FRIDAY, 28 OCTOBER 2016
     (“EXTENSION”)

     UPDATED SALIENT DATES AND TIMES

1.   INTRODUCTION AND RATIONALE FOR THE EXTENSION

     MTN shareholders (“MTN Shareholders”) are referred to the announcement relating to MTN’s
     proposed R9.9 billion broad-based empowerment transaction (“2016 MTN BEE Transaction”),
     as released by the Company on SENS on 22 August 2016 (“Terms Announcement”). Unless
     defined in this announcement or if the context dictates otherwise, capitalised terms used in this
     announcement have the same meanings as given in the Terms Announcement.

     As stated in the Terms Announcement, MTN intends to implement the proposed 2016 MTN BEE
     Transaction, through MTN Zakhele Futhi (RF) Limited (“MTN Zakhele Futhi”), by means of, inter
     alia, the following core elements: (i) a public offering in terms of which black participants will
     be invited to subscribe for and beneficially own MTN Zakhele Futhi Ordinary Shares, subject to
     the qualification criteria set out in the prospectus published on 12 September 2016
     (“Prospectus”) in respect of the offer (“MTN Zakhele Futhi Public Offer”); (ii) the MTN Zakhele
     Re-investment Offer, if the MTN Zakhele Unwinding Scheme proceeds; and (iii) the subscription
     for MTN Shares by MTN Zakhele Futhi using the funding raised through various sources. (The
     MTN Zakhele Futhi Public Offer and the MTN Zakhele Re-investment Offer are, together, the
     “MTN Zakhele Futhi Offer”).

     The number of applications being received by MTN Zakhele and/or participating Nedbank
     branches) from (i) MTN Zakhele Shareholders wishing to make an election in terms of the
     election process afforded MTN Zakhele Shareholders; or (ii) investors wishing to participate in
     the MTN Zakhele Futhi Public Offer, has notably increased over the past week. As such, MTN
     and MTN Zakhele have agreed to extend the MTN Zakhele Futhi Offer by a week to Friday, 28
     October 2016, largely to allow MTN Zakhele Shareholders, who wish to elect MTN Zakhele Futhi
     Ordinary Shares, additional time to complete their Re-Investment Offer election process, which
     includes completing their applications at a participating Nedbank branch.

     Potential new investors (Cash Applicants) and MTN Zakhele Shareholders are thus being
     afforded an additional week to participate in the MTN Zakhele Futhi Offer and are encouraged
     to complete their applications and/or elections as soon as possible.

2.    REVISED CLOSING DATE FOR THE MTN ZAKHELE FUTHI OFFER

      Set out below are the revised salient dates and times pertaining to the implementation of the
      2016 MTN BEE Transaction (assuming an MTN Zakhele Integrated Unwind):

                                                                                              2016
      MTN Zakhele Futhi Offer closes at 16:00 on                                Friday, 28 October

      MTN Zakhele Futhi Ordinary Shares allocated                           Wednesday, 23 November

      These dates and times are subject to amendment. Any such amendment will be released on
      SENS and published in the South African press.

By order of the Board of Directors of MTN Group Limited

17 October 2016



Investment bank, corporate advisor and transaction sponsor to MTN

Nedbank Corporate and Investment Banking

Legal and tax advisor to MTN and MTN Zakhele Futhi

Webber Wentzel

Investment bank, corporate advisor, arranger and bookrunner to MTN Zakhele Futhi

Nedbank Corporate and Investment Banking

Corporate advisor to MTN Zakhele

Tamela

Date: 17/10/2016 08:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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