To view the PDF file, sign up for a MySharenet subscription.

MULTICHOICE GROUP LIMITED - Change to role of executive chair of the board

Release Date: 12/11/2019 10:16
Code(s): MCG     PDF:  
Wrap Text
Change to role of executive chair of the board

MULTICHOICE GROUP LIMITED
(incorporated in the Republic of South Africa)
(Registration number: 2018/473845/06)
JSE Share Code: MCG
ISIN: ZAE000265971
("MultiChoice", "MCG" or "the Group")

CHANGE TO ROLE OF EXECUTIVE CHAIR OF THE BOARD

At a meeting held on 11 November 2019, the MultiChoice Board of Directors approved a
change to MCG’s executive roles.

Effective 30 September 2020, Imtiaz Patel will step down as Executive Chair of MCG. He will
become Non-Executive Chair on 1 October 2020, when Calvo Mawela, currently the Group’s
Chief Executive Officer will assume full executive responsibility.

Randburg
12 November 2019

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Important notice
Shareholders should take note that, pursuant to a provision of the MultiChoice memorandum of
incorporation, MultiChoice is permitted to reduce the voting rights of shares in MultiChoice
(including MultiChoice shares deposited in terms of the American Depositary Share ("ADS")
facility) so that the aggregate voting power of MultiChoice shares that are presumptively owned
or held by foreigners to South Africa (as envisaged in the MultiChoice memorandum of
incorporation) will not exceed 20% of the total voting power in MultiChoice. This is to ensure
compliance with certain statutory requirements applicable to South Africa. For this purpose,
MultiChoice will presume in particular that:

   -   all MultiChoice shares deposited in terms of the MultiChoice ADS facility are owned or
       held by foreigners to South Africa, regardless of the actual nationality of the MultiChoice
       ADS holder; and
   -   all shareholders with an address outside of South Africa on the register of MultiChoice will
       be deemed to be foreigners to South Africa, irrespective of their actual nationality or
       domicilium, unless such shareholder can provide proof, to the satisfaction of the
       MultiChoice board, that it should not be deemed to be a foreigner to South Africa, as
       envisaged in article 40.1.3 of the MultiChoice memorandum of incorporation.

Shareholders are referred to the provisions of the MultiChoice memorandum of incorporation
available at www.multichoice.com for further detail. If shareholders are in any doubt as to what
action to take, they should seek advice from their broker, attorney or other professional adviser.

Date: 12/11/2019 10:16:00
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.

Share This Story