MultiChoice concludes share exchange offer to Phuthuma Nathi shareholders

November 6, 2019

TELECOMPAPER / 04 NOVEMBER 2019 - 09.34 / STAFF REPORTER

 

 

 

The MultiChoice Group (MCG) has concluded its offer to Phuthuma Nathi (PN) shareholders to exchange up to 20 percent of their PN shares for MCG shares.

 

PN shareholders in both entities (PN1 and PN2) exchanged a total of 3.84 million shares for 3.68 million MCG shares. PN shareholders who chose to participate in the share exchange offer now hold shares in both PN and MCG. 

 

 

 

The share exchange fulfils the commitment made by MCG as part of its unbundling from Naspers earlier this year and follows the additional 5 percent share allocation in MultiChoice South Africa (MCSA) that was gifted to PN, a Broad-Based Black Economic Empowerment (B-BBEE) scheme, for no consideration.

 

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LINK : https://www.telecompaper.com/news/multichoice-concludes-share-exchange-offer-to-phuthuma-nathi-shareholders--1314630

 

Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER

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