SENS Note - 04 November 2015
MTN Group - statement on fine & further cautionary
 
Further to the Stock Exchange News Service (“SENS”) announcement issued on 03 November 2015 by MTN Group (“the Group”) regarding the above subject, MTNH wishes to advise noteholders as follows:

MTN Group has clarified and placed on record that it continues to engage constructively with Nigerian authorities at all levels.

The Group has noted, with concern, however, the speculation and false information in the media. MTN Group particularly cautioned against reports purporting that it has agreed a resolution with the NCC on the fine. The Group advised that these reports are false as no resolution has yet been reached. MTN Group continues to engage the authorities in Nigeria on this matter.

To this end, all stakeholders of the Group are reminded that MTN Group and the company will inform them of any material developments in our engagements with Nigerian authorities via SENS. Noteholders are also asked to exercise caution when reacting to information that has not been released by MTN Group or by the company.

It is also important to note that MTN Group has operated in Nigeria for over a decade. In this time, and as in the other markets where MTN Group has a presence, it has conducted its business in accordance with established principles related to sound corporate governance.

As a group which owes its founding and growth to the emerging world, MTN Group is conscious of its responsibility to invest in the growth of local economies and development of communities wherever it operates. Nigeria is no different. Since launching more than a decade ago, MTN Group has made significant investments in connecting customers to its network and takes its responsibilities and obligations very seriously.

In conducting its business, MTN Group is always mindful that its growth has not only been due to the success of its commercial propositions. MTN Group therefore remains committed to maintaining solid partnerships with regulators, governments, communities and our markets, including in Nigeria, to build a sustainable industry that contributes to the growth of local economies.

Noteholders are therefore advised to continue to exercise caution when dealing in the company’s securities until a further announcement is made.
 
Click here for original article