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Disposal of Telkom’s Masts and Towers Business Housed in Swiftnet SOC Limited – Results of General Meeting
TELKOM SA SOC LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1991/005476/30)
Share code: TKG
JSE bond code: BITEL
ISIN: ZAE000044897
("Telkom" or the "Company")
DISPOSAL OF TELKOM'S MASTS AND TOWERS BUSINESS HOUSED IN SWIFTNET SOC LIMITED –
RESULTS OF GENERAL MEETING
1. Introduction
1.1. Shareholders are referred to the circular distributed to Shareholders on 22 April 2024 (the "Circular"),
which Circular included a notice convening the general meeting of Shareholders to approve the
resolution required for implementation of the proposed disposal by Telkom of 100% of its shares in
(and all or part of its claims against) its wholly-owned subsidiary Swiftnet SOC Limited (which houses
its Masts and Towers business) to a purchasing consortium comprising: (i) an infrastructure fund
known as Actis Ohio Fund managed by Actis; and (ii) an infrastructure vehicle 100% (one hundred
percent) owned by Royal Bafokeng Holdings ("Disposal").
1.2. Unless expressly defined in this announcement, capitalised terms herein have the same meaning
given to them in the Circular.
2. Results of General Meeting
2.1. Shareholders are hereby advised that pursuant to the General Meeting of Shareholders of Telkom
held on Friday, 24 May 2024, the Ordinary Resolution required to implement the Disposal was
approved by the requisite majority of votes. In this regard, Telkom confirms that the voting statistics
from the General Meeting were as follows:
Total number of Shares in issue 511 140 239
Treasury shares and shares held by a plan, trust or scheme (excluded from 24 486 180
voting)
Total voteable Shares 486 654 059
Resolution Votes carried as a Number of Shares Shares
percentage of the total Shares voted as a abstained as a
number of Shares voted voted percentage percentage of
at the General Meeting of the total the total
For Against issued issued share
share capital
capital
Ordinary Resolution
Number 1: Approval of
the Disposal as a
Category 1 transaction 100.00% 0.00% 422 529 875 82.66% 0.00%
in terms of the JSE
Listings Requirements
3. Remaining Suspensive Conditions
Shareholders should note that implementation of the Disposal remains subject to the fulfilment or waiver,
if applicable, of other remaining Suspensive Conditions as set out in the Circular, including the regulatory
approvals required from the South African Competition Authorities and ICASA. A further announcement
will be released in accordance with the JSE Listings Requirements, regarding the fulfilment or waiver, if
applicable, of the remaining Suspensive Conditions and implementation of the Disposal.
Friday, 24 May 2024
Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 24-05-2024 02:25:00
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