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MTN Group Limited
(formerly M-Cell Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1994/009584/06)
(Share code MTN ISIN ZAE000042164)
("the MTN Group" or "the company")
PURCHASE OF AN 18,7% SHAREHOLDING IN MTN GROUP BY NEWSHELF 664 (PROPRIETARY)
LIMITED ("THE PURCHASER") AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the cautionary announcement dated 18 November 2002
and the subsequent announcements dated 26 November 2002, 5 December 2002 and 9
December 2002 regarding the proposed sale by Transnet Limited, on behalf of Ice
Finance BV, of approximately 18,7% of the issued share capital of the MTN Group
to the purchaser ("the sale").
Shareholders were advised inter alia, that a committee had been established made
up of independent non-executive directors of the company in order to consider
the impact of the sale on the MTN Group, notwithstanding that the MTN Group was
not a party to the sale and did not provide any form of financial assistance for
the sale. Having reviewed the sale agreement and all other relevant
documentation, the committee has determined that the sale will not have an
adverse impact on the MTN Group.
Shareholders are now advised that as all the conditions to the sale have been
fulfilled, they are no longer required to exercise caution when dealing in their
MTN Group shares in respect of this transaction.
This withdrawal of cautionary announcement does not affect the further
cautionary announcement dated 8 January 2003 and shareholders must continue
exercising caution in that regard.
Sandton
15 January 2003
Financial adviser to independent directors of
the MTN Group
Deloitte & Touche
Corporate Finance
Investment bank to the purchaser
Nedbank Corporate
Sponsor
Merrill Lynch
Global Markets & Investment Banking Group
Merrill Lynch South Africa (Pty) Ltd
Registration number 1995/001805/07
Registered Sponsor and Member of the
JSE Securities Exchange South Africa
Legal adviser to independent directors of the MTN Group
Werksmans Incorporated
(Registration number 1990/007215/21)
Legal adviser to the purchaser
Edward Nathan & Friedland (Pty) Ltd
Corporate Law advisers & Consultants
(Registration number 1999/026464/07)
Date: 15/01/2003 12:24:00 PM Produced by the JSE SENS Department
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