MTN launched its latest Broad-Based Black Economic Empowerment scheme, called MTN Zakhele Futhi, today. Valued at 9.9 million rand, the scheme will hold a 4 percent equity in MTN group. It will replace the current MTN Zakhele, which will be unwound in November.
Black (African, Coloured, and Indian) South Africa citizens by birth or descent or who are citizens through naturalisation before 27 April 1994 or after that date, but who would have qualified for naturalisation before that date.
Black groups: Black Companies and Black Entities (Black people own at least 51% of the equity, exercise at least 51% of the voting rights, and participate in at least 51% of the economic interests therein).
You can start buying the MTN Zakhele Futhi shares on 12 September 2016
The last day to buy the MTN Zakhele Futhi shares is on 21 October 2016.
Once the MTN Zakhele Futhi offer closes on 21 October 2016, the share allocation process will start, which can take up to 60 days to complete.
How much will it cost you to buy a MTN Zakhele Futhi share?
1 MTN Zakhele Futhi share is equal to R20
Cash applicant must apply for at least 100 shares or spend R2000
You can pay by cash or EFT.
Whatever amount you deposit in the bank account prior to 16:00 on 21 October 2016 will be used to apply for as many MTN Zakhele Futhi shares up to that amount (in multiples of R100), but only payments received before the dates below will be accepted.
Re-investment Applicants will not need to make a cash payment and the value of the scheme consideration due to you for the MTN Zakhele shares you elect to re-invest will be used to apply for as many MTN Zakhele Futhi Shares up to that amount.
DOWNLOAD FULL MTN ZAKHELE FUTHI PROSPECTUS HERE
Who can apply?
Black (African, Coloured, and Indian) South Africa citizens by birth or descent or who are citizens through naturalisation before 27 April 1994 or after that date, but who would have qualified for naturalisation before that date.
Black groups: Black Companies and Black Entities (Black people own at least 51% of the equity, exercise at least 51% of the voting rights, and participate in at least 51% of the economic interests therein).
When can you apply?
You can start buying the MTN Zakhele Futhi shares on 12 September 2016
The last day to buy the MTN Zakhele Futhi shares is on 21 October 2016.
Once the MTN Zakhele Futhi offer closes on 21 October 2016, the share allocation process will start, which can take up to 60 days to complete.
How much will it cost you to buy a MTN Zakhele Futhi share?
1 MTN Zakhele Futhi share is equal to R20
Cash applicant must apply for at least 100 shares or spend R2000
How do you apply for the shares?
Need a hand with your application for MTN Zakhele Futhi shares?
How do you pay for the shares?
You can pay by cash or EFT.
Whatever amount you deposit in the bank account prior to 16:00 on 21 October 2016 will be used to apply for as many MTN Zakhele Futhi shares up to that amount (in multiples of R100), but only payments received before the dates below will be accepted.
Re-investment Applicants will not need to make a cash payment and the value of the scheme consideration due to you for the MTN Zakhele shares you elect to re-invest will be used to apply for as many MTN Zakhele Futhi Shares up to that amount.
DOWNLOAD FULL MTN ZAKHELE FUTHI PROSPECTUS HERE
SOUTH AFRICA - MTN LAUNCHES NEW SCHEME CALLED MTN ZAKHELE FUTHI
Reviewed by MHM Marketing & Design
on
September 13, 2016
Rating:
Reviewed by MHM Marketing & Design
on
September 13, 2016
Rating:
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