| Tue 28 Jun 2011, 17:35 | | TKG - Telkom SA Limited - Telkom signs heads of agreement on Multi-Links with an |
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TKG
TKG
TKG - Telkom SA Limited - Telkom signs heads of agreement on Multi-Links with an
affiliate of Helios Towers Nigeria
Telkom SA Limited
(Registration number 1991/005476/06)
JSE share code: TKG
ISIN: ZAE000044897
("Telkom")
Pretoria
Telkom signs heads of agreement on Multi-Links with an affiliate of Helios
Towers Nigeria
Telkom shareholders are referred to the announcement on 13 June 2011 regarding
the failure to sell the CDMA business of Multi-Links Telecommunications Limited
("Multi-Links") to Visafone Communications as a result of the fact that certain
conditions precedent had not been met, and the Telkom Board`s decision to stop
funding Multi-Links.
Telkom has now reached an agreement with an affiliate of Helios Towers Nigeria,
Limited ("HTN") on the future of Multi-Links. Under the terms of the heads of
agreement, which is subject to the relevant approvals, the affiliate of HTN will
acquire full ownership and control of Multi-Links.
The entire issued share capital of Multi-Links will be sold for a consideration
which, depending on the achievement of certain conditions, will be USD10 000
300,00. Telkom will continue to provide interim operational funding to Multi-
Links to enable completion of the transaction which is expected to be in August
2011.
Telkom will participate in a portion of any upside above a certain threshold in
the event of a disposal Multi-Links or its assets by an affiliate of HTN on or
before three years of deal completion. The participation portion is dependent on
the lapse of certain time periods.
28 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: 28/06/2011 17:35:01 Produced by the JSE SENS Department.
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