| SENS Note - 25 May 2009 |
| MTN -- implementation of Newshelf acquisition |
|
MTN shareholders are hereby advised that all of the outstanding conditions precedent for the acquisition of Newshelf 664 (Pty) Ltd ("Newshelf") by MTN from the Alpine Trust, the acquisition and settlement by MTN of the funding obligations due to the Public Investment Corporation Ltd ("PIC") by Newshelf and the specific repurchase by MTN of the 243 500 011 MTN ordinary shares held by Newshelf ("Newshelf acquisition", as further described in the circular to shareholders dated 6 April 2009) have been met and that the Newshelf acquisition was implemented on 25 May 2009. As a consequence of the implementation of the Newshelf acquisition, (i) MTN issued in aggregate 213 866 898 new MTN ordinary shares to the PIC on 25 May 2009, which shares will be listed on the exchange operated by the JSE Ltd ("JSE") on 26 May 2009, and (ii) MTN repurchased the 243 500 011 MTN ordinary shares owned by Newshelf, which shares have been cancelled and will be delisted from the JSE on 26 May 2009. |
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