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VOD
VOD
VOD - Vodacom Group Limited - Allocation of YeboYethu units pursuant to the
YeboYethu Employee Participation Trust
Vodacom Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1993/005461/06)
Share code VOD ISIN ZAE000132577
("Vodacom")
Allocation of YeboYethu units pursuant to the YeboYethu Employee Participation
Trust
In accordance with paragraph 3.63 of the JSE Listings Requirements, shareholders
are advised that the following executive director and company secretary of
Vodacom Group Limited and executive director of Vodacom (Pty) Limited were
awarded units in the YeboYethu ESOP in terms of their employment contracts, the
salient details of which are set out below:
Name of executive director: RA Shuter
Designation: Vodacom Chief Financial Officer
Entity: Vodacom Group
Notification of award: 27 November 2009
Nature of security: YeboYethu unit (refer below for
explanation)
Number of units allocated: 1 339 074
Consideration: Nil
Value of transaction n/a - this will only be known in year 7
when the units get converted
Nature of transaction: Direct beneficial interest
Clearance: Yes - units were allocated in terms of
letter of employment and in accordance
with terms of the YeboYethu ESOP
Name of company secretary: SF Linford
Designation: Vodacom Group Company Secretary
Notification of award: 27 November 2009
Nature of security: YeboYethu unit (refer below for
explanation)
Number of units allocated: 559 382
Consideration: Nil
Value of transaction n/a- this will only be known in year 7
when the units get converted.
Nature of transaction: Direct beneficial interest
Clearance: Yes- units were allocated in terms of
letter of employment and in accordance
with terms of the YeboYethu ESOP
Name of major subsidiary director: SB Hayward
Name of major subsidiary: Vodacom (Pty) Limited
Designation: Executive director: Vodacom Business
Notification of award: 27 November 2009
Nature of security: YeboYethu unit (refer below for
explanation)
Number of units allocated: 752 273
Consideration: Nil
Value of transaction n/a- this will only be known in year 7
when the units get converted.
Nature of transaction: Direct beneficial interest
Clearance: Yes - units were allocated in terms of
letter of employment and in accordance
with terms of the YeboYethu ESOP
At end July 2008, Vodacom announced the implementation of its R7.5 billion broad
based black economic empowerment ("BBBEE") transaction which involved, inter
alia, a public offer to the South African black public through YeboYethu Limited
("YeboYethu") which holds a 3.44% interest in Vodacom (Pty) Limited ("Vodacom
SA"). In addition to the public offer, all Vodacom`s permanent South African
employees were able to participate in the BBBEE transaction through the
allocation of units in terms of the YeboYethu Employee Participation Trust
("YeboYethu ESOP"). 75% of the 1.875 billion units available to the YeboYethu
ESOP were allocated to Vodacom`s permanent South African staff in September 2008
while the remaining 25% was made available to future employees for the next 5
years on a reduced sliding scale. The allocation of units to permanent South
African staff is weighted 70/30 in favour of black staff.
The YeboYethu ESOP has a 7-year lock up period to August 2015. At that time the
allocated units, after taking into account notional vendor financing provided by
Vodacom SA, will be converted into YeboYethu shares where a value could be
realised by staff by selling these shares to the black public via an over the
counter facility to be set up by Vodacom.
Having joined Vodacom since October 2008, the above executive directors and
company secretary of Vodacom and Vodacom SA were notified in November 2009 of
their participation in the YeboYethu ESOP to the extent of the units reflected
above.
Midrand
01 December 2009
Sponsor: UBS South Africa (Pty) Limited
Date: 01/12/2009 17:36:15 Produced by the JSE SENS Department.
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employees and agents accept no liability for (or in respect of) any direct,
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