| Wed 8 Oct 2008, 17:00 | | TKG - Telkom - Results of the YeboYethu Limited public offer |
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TKG
TKG
TKG - Telkom - Results of the YeboYethu Limited public offer
Telkom SA Limited
(Registration Number 1991/005476/06)
ISIN: ZAE000044897
JSE & NYSE Share code: TKG
("Telkom")
Results of the YeboYethu Limited ("YeboYethu") public offer
Shareholders are referred to the announcement below issued by Vodacom Group
(Proprietary) Limited ("Vodacom").
1. Introduction
Vodacom and YeboYethu are pleased to announce that the public offer ("Public
Offer") for YeboYethu ordinary shares ("Shares" or each a "Share"), which
closed on 11 September 2008, has been a resounding success. The Public Offer
attracted 102,531 valid applications and was almost three times subscribed.
2. Results of the Public Offer
Members of the black public, black controlled groups and Vodacom`s black
business partners (collectively, "Black Participants", which includes
qualifying African, Coloured, Indian and Chinese people) were invited in terms
of a prospectus ("YeboYethu Prospectus") to apply for 14.4 million Shares:
* 102,531 valid applications for a total amount of R946 million were received;
* 86% of valid funds received came from black individuals, with 14% from black
controlled companies;
* 49% of the valid individual applications were received from black women; and
* Almost 60% of the valid applicants applied for the minimum subscription of
100 Shares and will receive 100% of their valid application amount.
The results of the Public Offer are summarised in the table below:
Valid
Number of amount
valid applied for
applicants (R`million)
Black individuals: 100,474 809.1
- Women 48,977 318.5
- Men 51,497 490.6
Black groups: 1,915 122.8
- 100% black women 406 8.4
- 100% black owned 1,288 89.5
- Other black groups 221 24.9
Black business partners 142 14.1
Total 102,531 946
3. Basis of allocation
To achieve a broad-based shareholding of YeboYethu, Shares were allotted using
a "bottom-up" approach so as to prioritise the acceptance, in whole or in part,
of applications for smaller numbers of shares over those for larger numbers of
shares.
Preference was given to:
* Black business partners;
* Black women; and
* Black groups with a higher percentage of black women and black ownership and
control.
Business partners subscribed for approximately 566,000 Shares, resulting in all
business partners receiving their full allocation.
The minimum subscription for the Public Offer was for 100 Shares of R25 each.
In terms of the general principles applied to the allocation process for
eligible applications:
* All eligible applicants will receive the minimum amount of 100 Shares
(R2,500), underscoring Vodacom`s objective of achieving a truly broad-based
empowerment transaction;
* Other than black business partners, no eligible applicant will be allocated
more than 200,000 shares (R5 million);
* Shares will only be allocated in multiples of 100 shares (R2,500); and
* No eligible applicant will receive less than 10% of what they applied for.
Unless applications were disqualified for reasons described in the YeboYethu
Prospectus, applications were accepted, in full or in part, based on the
principles described above.
4. Refunds
Refunds for applications not accepted in full and ineligible applications will
commence on or about 13 October 2008 by electronic funds transfer into each
affected applicant`s specified transactional bank account.
Amounts to be refunded will carry interest calculated from 11 September 2008
(closing date) until the date of the refund at 5% per annum for the first R1
million and 7% per annum for amounts in excess of R1 million.
5. Welcome pack
As stated in the YeboYethu Prospectus, the original Share certificates issued
in respect of the Public Offer will be retained by the YeboYethu transfer
secretary to ensure compliance with the restrictions on disposal and
encumbrances of the Shares.
Information will be posted to all applicants on or about 13 October 2008 to
inform them, inter alia, of the status of their applications, including, the
extent to which their applications were accepted, the number of Shares that
will be allotted and issued to them and the amount of refunds, if any,
together with interest thereon.
All applicants may call the YeboYethu call centre on 082 19326 or 0800 22 9326
with any queries.
Pretoria
8 October 2008
Sponsor: UBS
Date: 08/10/2008 17:00:05 Produced by the JSE SENS Department.
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