MTN says it may launch an alternative BEE deal when its current black economic empowerment (BEE) scheme closes in November.<\/p>\n
Investors in MTN Zakhele have been offered three options after the upcoming maturity of the current BEE share scheme.<\/p>\n
Option 1<\/strong><\/p>\n This will include a cash settlement equivalent to the value of their MTN Zakhele ordinary\u00a0 shares at the time (after taking into account the unwinding costs and associated taxes).<\/p>\n Option 2<\/strong><\/p>\n This will include a combination of MTN Group Limited shares and a cash settlement equivalent to the value of their MTN\u00a0 Zakhele ordinary shares at the time (after taking into account the unwinding costs and associated taxes).<\/p>\n MTN said that at this current stage it is still envisaged that, either Option 1 or 2 or both such Options will be made available\u00a0 to\u00a0 the\u00a0 holders\u00a0 of\u00a0 MTN\u00a0 Zakhele\u00a0 ordinary\u00a0 shares.<\/p>\n In\u00a0 addition,\u00a0 a third option may also be made available if so decided on and approved by MTN Group and its shareholders, the mobile operator said.<\/p>\n Option 3<\/strong><\/p>\n “MTN Group Limited continues to evaluate alternatives for a new Black Economic Empowerment (\u201cBEE\u201d) share scheme that may come into effect on the expiry of the MTN\u00a0 Zakhele share scheme in November 2016,” the operator said.<\/p>\n “As part of this new scheme, it is possible, although not yet certain, that holders of MTN\u00a0 Zakhele ordinary shares at the time will be granted the opportunity of a partial re-investment into the new BEE share scheme on terms yet to be determined,” MTN said.<\/p>\n MTN Zakhele reveals financial results for 2015<\/strong><\/a><\/p>\n MTN Zakhele BEE shares to list on the JSE in November<\/a><\/strong><\/p>\nMore on MTN Zakhele<\/h3>\n