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ICASA Approval Obtained for the Disposal of Telkom’s Masts and Towers Business
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")
ICASA APPROVAL OBTAINED FOR THE DISPOSAL OF TELKOM'S MASTS AND
TOWERS BUSINESS
Shareholders are referred to the circular dated 22 April 2024 ("Circular") and the
announcements released on SENS, the last of which was dated 3 September 2024 (the
"Announcement") regarding the implementation of the disposal by Telkom of its masts and
towers business housed in Swiftnet SOC Limited (the "Disposal") to a purchasing consortium
comprising: (i) an infrastructure fund managed by a subsidiary of Actis LLP; and (ii) an
infrastructure vehicle 100% (one hundred percent) owned by Royal Bafokeng Holdings.
Capitalised terms used but not defined herein shall have the meaning ascribed thereto in the
Circular.
Shareholders are reminded that, as detailed in the Circular, the implementation of the
Disposal remains subject to the fulfilment or, to the extent permissible, waiver of several
Suspensive Conditions.
In the Announcement, Shareholders were advised of the timeous fulfilment of two
Suspensive Conditions requisite for the implementation of the Disposal, being the receipt of
approval from:
– Shareholders at the General Meeting held on 24 May 2024; and
– the South African Competition Authorities.
By way of further update, Shareholders are now advised that another significant milestone
has been achieved, namely the receipt of approval from the Independent Communications
Authority of South Africa ("ICASA") for implementation of the Disposal (which results in a
change of control of Swiftnet's licences) obtained on 13 December 2024.
Accordingly, the Suspensive Condition requiring that the Disposal be approved by ICASA
has been fulfilled.
The Disposal remains subject to the fulfilment or, to the extent permissible, waiver of the
remaining outstanding Suspensive Conditions, as detailed in the Circular.
Further updates will be released in accordance with the JSE Listings Requirements, where
applicable.
JSE Sponsor to Telkom
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
17 December 2024
Date: 17-12-2024 07:30:00
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