| Fri 7 Aug 2009, 16:05 | | TKG - Telkom - Telkom SA Limited to delist from The New York Stock Exchange |
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TKG
TKG
TKG - Telkom - Telkom SA Limited to delist from The New York Stock Exchange
Telkom SA Limited
Incorporated in the Republic of South Africa
(Registration Number 1991/005476/06)
ISIN ZAE000044897
JSE and NYSE Share Code TKG
("Telkom" or "the Company")
Telkom SA Limited to delist from the New York Stock Exchange
Telkom SA Limited ("Telkom") announced on June 22, 2009 its intention to
voluntarily delist its American Depositary Receipts ("ADRs") from the New York
Stock Exchange ("NYSE") and to terminate its reporting obligations under the
Securities Exchange Act of 1934 ("the Exchange Act").
Telkom intends to file a Form 25 with the Securities and Exchange Commission
("SEC") on or about August 17, 2009, and provide a copy thereof to the NYSE to
effect the delisting on or about August 27, 2009. The delisting is expected to
be effective 10 days after the filing of Form 25: following this Telkom will
file a Form 15F with the SEC to deregister and terminate its reporting
obligations under the Exchange Act. If Telkom`s ADRs are delisted from the NYSE
as of August 27, 2009, the last trading day of such ADRs will be August 26,
2009.
The filings will deregister and terminate Telkom`s reporting obligations under
the Exchange Act for its ADR program and ordinary shares.
Upon filing the Form 15F Telkom`s reporting obligations will be immediately
suspended and the deregistration will be effective 90 days after the filing.
Telkom reserves the right to delay or withdraw the filing of Forms 25 and 15F
for any reason.
Telkom intends to maintain its ADR facility as a Level 1 program to enable
investors to retain their ADRs, which will be tracked on the over-the-counter
market in the USA. Telkom`s ordinary shares will continue to be traded on the
JSE Limited.
The Board decided to delist from the New York Stock Exchange given the current
global economic climate and the business imperative for Telkom to reduce its
cost base. The methodology employed and discipline gained from compliance with
the Sarbanes-Oxley reporting requirements will be retained, where appropriate,
to ensure strict corporate governance compliance and transparent financial
reporting. Telkom is comfortable that the JSE Limited provides sufficient access
to capital from both South African and global investors.
Telkom will continue to publish its annual report, interim results and
communications on its website at www.telkom.co.za/ir.
Pretoria
7 August 2009
Sponsor: UBS
Date: 07/08/2009 16:05:01 Produced by the JSE SENS Department.
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