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MTN
MTN
MTN - MTN Group Limited - Dealing in securities by Directors
MTN Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1994/009584/06)
Share code: MTN
ISIN: ZAE000042164
("MTN")
Dealing in securities by directors
Shareholders are referred to the announcement on 10 November 2006 which advised
shareholders that the Alpine Trust ("Alpine") together with M1 Limited ("M1")
were proposing to purchase MTN shares through a newly formed special purpose
vehicle ("Newco") and that any such purchases would be in addition to the MTN
shares which Alpine and M1 already own or in which they have an interest.
Alpine was established for the benefit of eligible permanent staff employed by
MTN and its South African subsidiaries as well as eligible senior staff members
of its African operations and currently holds MTN shares through Newshelf 664
(Proprietary) Limited which is 100% owned by Alpine. Pursuant to the
acquisition of Investcom LLC ("Investcom") by MTN, details of which were
contained in the circular to shareholders issued on 12 June 2006, M1 Limited
("M1"), the holding company of Investcom received 183 152 564 MTN shares as part
of the consideration paid by MTN.
As a result of being beneficiaries of Alpine, PF Nhleko, RD Nisbet and RS
Dabengwa as well as directors of major subsidiaries who participate in Alpine
will have an indirect beneficial interest in MTN shares acquired by Newco. In
addition, M1 will also have an indirect beneficial interest in MTN shares
acquired by Newco and in terms of the JSE Limited ("JSE") Listings Requirements,
M1 is deemed an associate of Mr A Mikati, a non-executive director of MTN.
Newco has acquired MTN shares in the market and has concluded a zero cost collar
in respect of these MTN shares. In compliance with rules 3.63 - 3.74 of the JSE
Listings Requirements, the following disclosure is made:
Date of transactions : 11 May 2007
Nature of transaction : Acquisition of 6 932 066 MTN shares in the market
Price paid per MTN share : R100.98
Aggregate purchase
Consideration : R700 000 025
Nature of transaction : Concluded a zero cost collar with a commercial
bank in terms of which Newco bought put options
and sold call options in respect of the 6 932 066
MTN shares
Strike price of put options: R95.93 per MTN share
Strike price of call options: R152.07 per share
Expiry of options : 15 May 2010
Class of Security : Ordinary shares of 0.01 cents each
Nature of Interest : Indirect Beneficial
Prior clearance to enter into the transaction was obtained in accordance with
MTN`s policy with regard to Directors` dealings as well as the JSE Listings
Requirements.
Fairland
14 May 2007
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 14/05/2007 11:07:01 Produced by the JSE SENS Department.
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