FSB confirms expiry of MTN Zakhele Temporary Exemption on 31 March

The FSB (Financial Services Board) has confirmed that MTN Zakhele's temporary exemption will expire on the 31st of March 2015. Shareholders have been advised to exercise caution in dealing with the shares.

MTN Zakhele operates a trading platform for its ordinary shares under an exemption granted by the Financial Services Board (FSB) that expires on 31 March 2015. Following an application by MTN Zakhele for the current exemption to be extended to 26 November 2016, when restrictions on trading in MTN Zakhele shares will be lifted, the FSB has confirmed that the current exemption will expire on 31 March 2015.

MTN Zakhele is considering various alternatives to enable shareholders to continue to trade their shares on a trading platform.

Shareholders are advised to exercise caution in dealing with MTN Zakhele shares until a further announcement is made.

MTN Zakhele will continue to engage with the FSB in an endeavour to find solutions for a controlled, secure and cost-effective platform for MTN Zakhele shareholders to trade.

About MTN Zakhele

MTN Zakhele was set up in 2010 as a vehicle for previously disadvantaged South Africans to invest in the MTN Group, a leading emerging markets mobile operator.  MTN Zakhele celebrated its three year anniversary in November 2013, a key milestone for the scheme as it opened its trading platform allowing Black individuals and groups to trade MTN Zakhele shares. The MTN Zakhele dedicated call centre – 083 123 6869 and website www.mtnz.co.za are the channels through which shareholders and qualifying potential investors can register and trade. Almost 9 million shares valued at over R900 million have changed hands since the opening of trade.