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TKG
TKG
TKG - Telkom SA Limited - Statement by Vodacom
Telkom SA Limited
(Registration Number 1991/005476/06)
ISIN ZAE000044897
JSE and NYSE Share Code TKG
("Telkom")
Statement by Vodacom
Shareholders are referred to the following statement issued today by Vodacom
Group (Pty) Limited ("Vodacom"), a joint venture where Telkom holds a 50%
interest.
Updated terms of Vodacom`s proposed broad-based BEE transaction
Alan Knott-Craig, CEO of Vodacom Group, today announced the preferred strategic
partners for the Vodacom South Africa BEE transaction. Based on the
comprehensive partner selection process undertaken, Vodacom has selected Royal
Bafokeng Holdings and Thebe Investment Corporation ("Thebe") as the two
preferred strategic partners to participate in this broad-based BEE transaction.
Royal Bafokeng Holdings is the primary investment vehicle of the Royal Bafokeng
Nation, a 300 000 strong broad-based black community situated in the North West
Province. Royal Bafokeng Holdings is responsible for the management and
development of the commercial assets of the Royal Bafokeng Nation, for the
sustainable benefit of the community.
Thebe is one of the pioneers of broad-based BEE in South Africa. Its main
shareholder the Batho Batho Trust is a community based organisation established
to promote the social and economic development of black people and women. Thebe
aims to develop and invest in businesses for the long-term benefit of the
community, fulfilling social objectives using economic means.
The BEE transaction will comprise the following three participant groupings:
- all Vodacom South African staff - 25%;
- broad-based black South African public and Vodacom black business partners
- 30% ; and
- broad-based strategic partners - 45%.
It is anticipated that an announcement regarding the terms of the BEE
transaction and the offer to the black public and business partners will be made
at the end of June 2008, with the black public offer opening shortly thereafter.
Further information on the BEE transaction will be provided subsequent to the
terms announcement by Vodacom.
Pretoria
25 April 2008
Sponsor: UBS
Date: 25/04/2008 15:00:02 Produced by the JSE SENS Department.
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