| Tue 2 Jun 2009, 8:00 | | TKG - Telkom SA Limited - Announces the successful completion of the accelerated |
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TKG
TKG
TKG - Telkom SA Limited - Announces the successful completion of the accelerated
bookbuilding of Vodacom shares, raising ZAR1.54 billion for "ineligible
shareholders"
Telkom SA Limited
(Incorporated in the Republic of South Africa)
(Registration number 1991/005476/06)
(JSE and NYSE share code: TKG)
(ISIN: ZAE000044897)
("Telkom")
Telkom SA Limited announces the successful completion of the accelerated
bookbuilding of Vodacom shares, raising ZAR1.54 billion for "ineligible
shareholders"
Not for distribution or release, directly or indirectly, in or into the United
States, Canada, Australia and Japan or any other jurisdiction in which the
distribution or release would be unlawful. Other restrictions are applicable.
Please see the important notices at the end of this communication.
Telkom SA Limited ("Telkom") announces today the completion of a placement of
28,993,233 shares of Vodacom Group Limited ("Vodacom"), on behalf of "ineligible
shareholders", with institutional investors through an accelerated bookbuild
offering, pursuant to Regulation S under the US Securities Act of 1933. The
Vodacom shares were placed at a price of ZAR53.00 per share, raising gross
proceeds of ZAR1.54 billion for such "ineligible shareholders". As set out in
the circular to Telkom shareholders dated 2 March 2009, the directors of Telkom,
in consultation with Vodafone, determined that Telkom US shareholders would be
regarded as "ineligible shareholders" for the unbundling of Vodacom shares to
shareholders of Telkom completed on 25 May 2009 and would therefore not receive
Vodacom shares in such distribution. The proceeds from the offering, net of
applicable fees, expenses, taxes and charges, will be distributed to the
"ineligible shareholders" in proportion to their entitlement to Vodacom shares.
J.P. Morgan Securities Ltd. acted as the Sole Bookrunner for the placement.
THIS PRESS RELEASE IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES.
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.
2 June 2009
Transaction sponsor: J.P. Morgan Equities Limited
Date: 02/06/2009 08:00:03 Produced by the JSE SENS Department.
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