| Mon 18 May 2009, 8:21 | | TKG - Telkom SA Limited - Announcement Regarding Urgent Application By Cosatu |
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TKG
TKG
TKG - Telkom SA Limited - Announcement Regarding Urgent Application By Cosatu
And ICASA To The High Court To Interdict The Vodacom Transaction
Telkom SA Limited
(Incorporated in the Republic of South Africa)
(Registration number 1991/005476/06)
(JSE and NYSE share code: TKG)
(ISIN: ZAE000044897)
("Telkom")
ANNOUNCEMENT REGARDING URGENT APPLICATION BY COSATU AND ICASA TO THE HIGH COURT
TO INTERDICT THE VODACOM TRANSACTION
Telkom shareholders are notified that the North Gauteng High Court, Pretoria has
dismissed the joint application by Cosatu and ICASA for an order interdicting
the parties from taking further steps to implement the Vodacom transaction.
Accordingly, the listing of Vodacom will take place as scheduled, today, 18 May
2009.
Telkom will continue to act in accordance with its legal obligations under the
transaction agreements and intends to implement the remaining steps of the
transaction in accordance with the previously announced timetable. For Telkom
shareholders` convenience, this timetable is summarised below.
The Unbundling
Telkom shares trade "ex" the Monday, 18 May 2009
entitlement to the unbundled
Vodacom shares and cash proceeds
from the sale thereof from the
commencement of business
Listing of Vodacom on the JSE from Monday, 18 May 2009
the commencement of business
Announcement of apportionment of Wednesday, 20 May 2009
base cost for CGT purposes
Record date to participate in the Friday, 22 May 2009
Unbundling
Unbundling effected Monday, 25 May 2009
The Special Dividend
Last day to trade in Telkom shares Friday, 22 May 2009
on the JSE and Telkom ADSs on the
NYSE to participate in the Special
Dividend
Telkom shares trade "ex" the Monday, 25 May 2009
Special Dividend from the
commencement of business
Record date to participate in the Friday, 29 May 2009
Special Dividend
Special Dividend paid Monday, 1 June 2009
Telkom wishes however, to draw shareholders attention to the application
launched by Cosatu on 5 May 2009 which, amongst others, challenges ICASA`s
original decision that Vodacom did not require its approval for the transaction.
This application, which preceded the joint application by Cosatu and ICASA,
remains pending. Telkom will oppose the application and will advise shareholders
regarding developments in due course.
Pretoria
18 May 2009
Transaction sponsor to Telkom
J.P. Morgan Equities Ltd
Special note regarding forward-looking statements
Many of the statements included in this announcement, as well as oral statements
that may be made by Telkom and Vodacom, or by officers, directors or employees
acting on their behalf related to the subject matter hereof, 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 Telkom`s ability
to successfully complete the Transaction and its effects on Telkom`s operations,
Telkom`s ability to implement its mobile strategy and any changes thereto,
Telkom`s 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 Telkom`s actual results and outcomes to be materially
different from historical results or from any future results expressed or
implied by such forward-looking statements. Among the factors that could cause
Telkom`s actual results or outcomes to differ materially from its expectations
are those risks identified in Item 3. "Key Information-Risk Factors" contained
in Telkom`s most recent annual report on Form 20-F filed with the U.S.
Securities Exchange Commission ("SEC") and Telkom`s other filings and
submissions with the SEC, which are available on Telkom`s website at
www.Telkom.co.za/ir and other matters not yet known to Telkom or not currently
considered material by Telkom. Telkom cautions you not to place undue reliance
on these forward-looking statements. All written and oral forward-looking
statements attributable to Telkom, or persons acting on Telkom`s behalf, are
qualified in their entirety by these cautionary statements. Moreover, unless
Telkom is required by law to update these statements, Telkom will not
necessarily update any of these statements after the date of Telkom`s 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
Telkom`s expectations.
THIS IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES AND SECURITIES
MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN
EXEMPTION FROM REGISTRATION. THERE WILL BE NO PUBLIC OFFERING OF VODACOM
SECURITIES IN THE UNITED STATES THAT WOULD REQUIRE REGISTRATION.
Date: 18/05/2009 08:21:09 Produced by the JSE SENS Department.
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