By Thulani Gcabashe (Chairman – MTN Zakhele)
Shareholders are referred to the announcement dated 12 February 2015 where shareholders were advised to exercise caution when dealing in MTN Zakhele shares and that the temporary exemption from the requirement to be licensed as an exchange granted by the FSB (Financial Services Board) will expire on 31 March 2015. Following an application by MTN Zakhele for the current exemption to be extended to 25 November 2016, being the date on which trading restrictions on MTN Zakhele shares will be lifted in terms of the scheme, the FSB has now approved a further temporary exemption to 30 June 2015. 
The temporary exemption is subject to particular terms and conditions which relate to maintaining good corporate governance, recording and surveillance of transactions, having effective security and back-up procedures in place, and compliance to trading and disclosure rules.
MTN Zakhele is engaging with the Johannesburg Stock Exchange (JSE) to work towards implementing an alternative solution to enable shareholders to continue to securely trade their shares by applying for a listing on the JSE’s black economic empowerment board (BEE board). The JSE has initiated the process of making amendments to the BEE board in order to better serve the needs of issuers of restricted shares, such as MTN Zakhele. MTN Zakhele will endeavour to list on the BEE board as soon as is practicable, once suitable amendments have been made to the BEE board.
Renewal of cautionary announcement:
Shareholders are advised to continue to exercise caution when dealing in their MTN Zakhele shares until further announcements are made.
We will keep shareholders advised of further developments.
 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. Over 9 million shares valued at more than R900 million have changed hands since the opening of trade.
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