| Tue 7 Jun 2011, 17:27 | | TKG - Telkom SA Limited - Update on Multi-Links |
|
TKG
TKG
TKG - Telkom SA Limited - Update on Multi-Links
Telkom SA Limited
(Registration number 1991/005476/06)
JSE share code: TKG
ISIN: ZAE000044897
("Telkom")
Pretoria
Update on Multi-Links
Shareholders are referred to the announcements on SENS dated 1 April 2011 and 31
May 2011 detailing the proposed sale of Multi-Links Telecommunications Limited`s
CDMA business to Visafone Communications Limited. The settling of the Helios
Towers Nigeria dispute is one of the conditions precedent to the transaction.
Today, 7 June 2011, the Lagos High Court in Nigeria found in favour of Helios
Towers Nigeria in the matter regarding the validity of the Master Lease
agreement (site lease agreements) between Multi-Links and Helios Towers Nigeria.
Multi- Links is reviewing the implications of the judgment and all options will
be considered.
The Helios Towers Nigeria`s damages claim for anticipatory breach of contract
for USD252m has not yet been set down for hearing. Irrespective of the
litigation in respect of the Master Lease Agreement, the parties are still
continuing to perform in terms of the agreement.
07 June 2011
Sponsor: UBS South Africa (Pty) 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 us or by officers, directors or employees acting on behalf
of us, constitute or are based on forward looking statements.
All statements, other than statements of historical facts, including, among
others, statements regarding our mobile and other strategies, future financial
position and plans, 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 our 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 our actual results or outcomes to
differ materially from our expectations including but not limited to those risks
identified in Telkom`s most recent annual report which are available on Telkom`s
website at www.telkom.co.za/ir.
We caution you not to place undue reliance on these forward looking statements.
All written and oral forward looking statements attributable to us, or persons
acting on our behalf, are qualified in their entirety by these cautionary
statements. Moreover, unless we are required by law to update these statements,
we will not necessarily update any of these statements after the date of this
document, either to conform them to actual results or to changes in our
expectations.
Date: 07/06/2011 17:27:28 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
