Today's Bulletin: February 14, 2025

More results...

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Africacom
AfricaCom 2024
AI
Apps
Apps
Banking
Broadcast
CABSAT
Cabsat
Cloud
Column
Content
Corona
DTT
eCommerce
Editorial
Education
Entertainment
Events
Fintech
Fixed
Gitex
Gitex Africa
GSMA Cape Town
Healthcare
IBC
Industry Voices
Infrastructure
IoT
MNVO Nation Africa
Mobile
Mobile Payments
Music
MWC Barcelona
MWC Barcelona 2025
MWC Kigali
News
Online
Opinion Piece
Q&A
Satellite
Security
Software
Startups
Streaming
Technology
TechTalks
TechTalkThursday
Telecoms
Utilities
Video Interview
Follow us

MTN Proposes Extension of 2016 Broad-Based Black Economic Empowerment Scheme

August 20, 2024
1 min read
Author: Aayushya Ranjan

MTN Group has proposed extending its 2016 Broad-Based Black Economic Empowerment (BEE) scheme operated through MTNZF by an additional three years, moving the maturity date from November 2024 to November 2027. This extension increases the scheme’s overall term to 11 years, providing more time for shareholders to benefit from the scheme.

The extension is designed to offer further value for MTNZF ordinary shareholders rather than unwinding the scheme at its original maturity date. MTNZF’s board will have the discretion to partially or fully unwind the scheme during this extension period or enter into derivative transactions related to the MTN shares held by MTNZF, subject to necessary consents.

Additionally, MTN may expedite the unwinding process during this period by conducting specific share repurchases, pending approval from MTN shareholders. MTN will also bear its own costs as well as any approved costs incurred by MTNZF related to the scheme’s extension.

Follow us on LinkedIn

Newsletter signup

Sign up for our weekly newsletter and get the latest industry insights right in your inbox!

Please wait...

Thank you for sign up!