Vodacom’s Yebo Yethu gets trading date
Vodacom’s BEE share scheme Yebo Yethu, is set to start “over the counter” trading on the Equity Express trading platform next month.
The trading platform is currently only open for verification and registration, with a trading commencement date set for Monday, 3 February 2014.
The launch follows within days of rival scheme, MTN Zakhele’s similar, and much-delayed platform launch, on 29 January 2014.
MTN’s programme has been consistantly beset by glitches and delays since its initial launch on 25 November 2013. Trading was suspended shortly after launch to enhance the platform’s capacity.
Yebo Yethu, which owns 3.44% of Vodacom, was initiated by the telco in June 2008, with an initial value of R2.2 billion.
The scheme operates by paying dividends directly to shareholders (after deducting running costs).
Dividends reached a reported R20.2 million in 2013, compared to R6.5-million in Yebo Yethu’s first financial year.
Notional funding is serviced by deducting a portion of dividends declared by Vodacom before the balance is paid over to Yebo Yethu.
Vodacom Yebo Yethu advertisement
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