Telkom`s Khulisa investors to get free share handout
February 23, 2005
By Gugulakhe Masango
Telkom plans to reward its black investors with a loyalty bonus of nearly R100 million on its second anniversary as a listed company on March 4.
The news will be welcomed by the remaining 52 567 black investors who bought shares under the Khulisa scheme, but about 8 000 investors who sold their shares will miss out.
The government, which holds a 38.3 percent stake in Africa`s biggest telephone group, will grant one extra share for every five shares a Khulisa investor owns.
A Khulisa investor who paid about R500 for 22 shares at listing now holds shares worth R2 486, and will have pocketed R2 a share in dividends since listing. Telkom said the total value of 22 shares, including the bonus shares, was R2 938.
Sizwe Nxasana, Telkom`s chief executive, praised the government for creating a culture of share ownership for the historically disadvantaged.
Telkom shares fell 50c to R110.20 yesterday. The telecoms sector gained 0.18 percent
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