| Mon 31 Mar 2008, 7:36 | | TKG - Telkom SA Limited - Company announcement |
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TKG
TKG
TKG - Telkom SA Limited - Company announcement
Telkom SA Limited
(Registration Number 1991/005476/06)
JSE and NYSE Share Code TKG
SIN ZAE000044897
("Telkom")
Company Announcement
In response to recent developments surrounding the future direction of the
Telkom Group, the Board of Telkom advises as follows:
- the disposal of Telkom or any of its subsidiaries, joint ventures or any
parts thereof will not be considered by Telkom without a compelling
strategic rationale;
- the Telkom Board is supportive of the BBBEE transaction proposed by Vodacom
but is not in a position to comment on the impact of the proposed
transaction on Telkom as the details relating to the transaction have not
been finalised;
- the previously announced expression of interest by Oger Telecoms was
evaluated by the Board and has been declined as it is not in the interests
of Telkom shareholders;
- a decision has been taken to invest in the build of a fixed-wireless (voice
and data) and a mobile data network. The timing, extent and implication of
the roll-out of this network will be communicated to shareholders in due
course; and
- in the recent clarification and refinement of its strategy the Board of
Telkom has taken the decision to substantially reduce its investment in
Telkom Media (Pty) Limited and will be investigating all opportunities to
do this in the best interests of Telkom shareholders and all other
stakeholders.
Pretoria
31 March 2008
Sponsor: UBS
Special note regarding forward-looking statements
Many of the statements included in this announcement constitute or are based on
forward looking statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995, specifically Section 27A of the U.S. Securities
Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of
1934, as amended. All statements, other than statements of historical facts,
including, among others, statements regarding our future financial position and
plans, strategies, objectives, capital expenditures, projected costs and
anticipated cost savings and financing plans, as well as projected levels of
growth in the communications market, are forward looking statements. Forward
looking statements can generally be identified by the use of terminology such as
"may", "will", "should", "expect", "envisage", "intend", "plan", "project",
"estimate", "anticipate", "believe", "hope", "can", "is designed to" or similar
phrases, although the absence of such words does not necessarily mean that a
statement is not forward looking. These forward looking statements involve a
number of known and unknown risks, uncertainties and other factors that could
cause our actual results and outcomes to be materially different from historical
results or from any future results expressed or implied by such forward looking
statements. We caution you not to place undue reliance on these forward looking
statements. All written and oral forward looking statements attributable to us,
or persons acting on our behalf, are qualified in their entirety by these
cautionary statements. Moreover, unless we are required by law to update these
statements, we will not necessarily update any of these statements after the
date of our most recent annual report on Form 20-F filed with the US Securities
and Exchange Commission (SEC), either to conform them to actual results or to
changes in our expectations.
Telkom SA Limited filed an annual report on Form 20-F with the US SEC, for the
year ended March 31, 2007 on July, 17, 2007. This annual report includes a
detailed description of risk factors that may affect its business. For further
information you should refer to the Form 20-F and other filings with the US SEC,
which are available on Telkom`s investor relations website at
www.telkom.co.za/ir.
Date: 31/03/2008 07:36:54 Produced by the JSE SENS Department.
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