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JSE
GEN
GN - Asonge - Results of an offer by the National Empowerment Fund Trust
ASONGE
SHARE THE WEALTH OF THE NATION
NATIONAL EMPOWERMENT FUND
Growing black Economic Participation
Results of an Offer by the National Empowerment Fund Trust
("NEF Trust") to Black People and Black Groups to purchase shares through the
Asonge Share Sc heme Offer
1. INTRODUCTION
The National Empowerment Fund ("NEF") was created by statute in order to
promote and facilitate black economic participation through saving and
investment. Its mandate and mission is to be the catalyst of Broad- Based Black
Economic Empowerment ("BB -BEE").
One of the ways in which the NEF implements this mandate is by structuring
retail investment products for Black Groups and Black People ("Investors")
through its Asset Management Division which is a custodian of certain equity
holdings.
The first of such BB- BEE retail investment products was the Asonge Share
Scheme Offer ("Offer"). The purpose of such an Offer was to facilitate
empowerment of both a financial and an educational nature by inviting
Investors to purchase MTN Group Limited ("MTN") shares from the NEF at a 20%
discount to the closing price of MTN on the JSE Limited on 16 August 2007.
The Offer Price was set at R73.84.
2. RESULTS OF THE ASONGE SHARE SCHEME OFFER AND ALLOCATION OF SHARES
Approximately 87 000 total applications were received for the 10 640 000 MTN
shares offered to qualifying Black People and Black Groups pursuant to the
Offer which closed on 16 August 2007. Valid applications totalling
R889 233 857.00 were received. The Offer was oversubscribed and to meet the
extra demand, further allocations were made possible by the NEF approving an
additional 1 376 058 MTN shares worth R147 million bringing the total
allocation to 12 million MTN shares worth R1.3 billion.
The Offer was fully allocated in all provinces. These applications were
allocated at the absolute discretion of the NEF Trust as contained in the
Terms and Conditions of the Asonge Share Scheme Offer Document.
In keeping with our broad -based objectives the NEF Trust has resolved that
all Black People and Black Group applicants that applied for the minimum
investment amount of R2 000 will receive a full allocation of 27 MTN shares.
Black People who applied for the maximum investment amount of R50 000 will
receive a full allocation of 677 MTN shares.
Black Groups who applied for the maximum investment amount of R100 000 will
receive a full allocation of 1 354 MTN shares.
3. REFUND OF UNALLOCATED CASH
Where the amount to be refunded is less than R20 such proceeds will be paid to
a charity nominated by the NEF.
Refunds of unallocated cash will only be made when the amount exceeds R20. No
interest will be paid on such refunds.
Where an entire application was not valid, the full investment amount will be
returned to the Investor without interest.
Refunds will be paid within 45 business days following the completion of the
allocation process.
4. POSTING OF ALLOCATION STATEMENTS
Welcome packs containing a letter, certificate of participation and allocation
statement, will be posted to Investors with effect from Friday, 28 September
2007.
Should you have any queries in this regard, please contact the NEF Contact
Centre on 0860 123 NEF (633).
Sandton
27 September 2007
Share administrator
and corporate transaction manager
Computershare
Computershare Investor Services 2004 (Pty) Ltd
(Registration number 2004/003647/07)
Retail distribution
and receiving agent
Post Office
Date: 28/09/2007 08:49:09 Produced by the JSE SENS Department.
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