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BLUE LABEL TELECOMS LIMITED - Disposal by Blue Label of its interests in VAS Operations and 3G handset distribution

Release Date: 14/02/2020 15:07
Code(s): BLU     PDF:  
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Disposal by Blue Label of its interests in VAS Operations and 3G handset distribution

Blue Label Telecoms Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2006/022679/06)
Share code: BLU
ISIN: ZAE000109088
(“Blue Label” or “the Company”)


Shareholders are referred to the SENS announcements of 25 September 2019 and 16 October 2019 relating to the disposal
of Blue Label’s shareholding in Blue Label Mobile Group Proprietary Limited (“Blue Label Mobile” or the “VAS Operations”)
and the sale of The Prepaid Company Proprietary Limited’s interests in the 3G Mobile Proprietary Limited (“3G Mobile”)
handset trading operations. The above transactions were approved by Blue Label shareholders on 4 December 2019.

By way of an update, Blue Label shareholders are informed that all suspensive conditions relating to the disposal of
3G Mobile’s handset trading operations have been fulfilled and the purchase price of R544 million will be received
today, 14 February 2020.

In relation to the disposal of Blue Label’s VAS Operations, certain conditions precedent remain outstanding, the completion
of which is at an advanced stage. Upon fulfilment thereof, R350 million of the selling price of R450 million as well as all monies
paid by Blue Label Mobile towards the acquisition of Hyve Mobile Proprietary Limited and Mobile Content Africa Limited
amounting to approximately R81 million will be received. The remaining R100 million plus interest thereon will be deferred in
terms of the conditions contained in the circular to shareholders published on 6 November 2019.


14 February 2020

Financial Advisor and Sponsor
Investec Bank Limited

Legal Adviser to Blue Label
Werksmans Inc

Legal Advisor to DNI

Date: 14-02-2020 03:07:00
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