|
|
NEF ASONGE INVESTORS ARE IN FOR A BIG BONUS
Slug: (NEF ASONGE) MEDIA STATEMENT 03 Sep. 09
NEF ASONGE INVESTORS ARE
IN FOR A BIG BONUS
Leading empowerment facilitator, the National Empowerment Fund (NEF), has announced that the NEF Asonge Share Scheme investors who participated in its historic public share offer two years ago are about to be rewarded for their resolve in having stayed invested.1 (ONE) bonus share for every 10 (TEN) MTN Ordinary Shares held at the end of September 2009. BUSINESS REPORT QUESTIONS
1.How many extra shares is NEF planning to reward to the Asonge shareholders?
I (ONE) BONUS SHARE FOR EVERY 10 (TEN) MTN SHARES HELD AT THE END OF September 2009
2.How much is this going to cost NEF? e.g the value of the extra shares?
Please see reply below.
3.Where does the shares come from? Are they from NEF's existing shareholding in MTN?
Yes. Remember, the NEF Asonge Share Scheme comprised the sale of 50% of the NEF’s shareholding. When the offer was oversubscribed by 13% an additional 1,4 million shares were allocated to provide for this oversubscription. The NEF still holds a meaningful number of Ordinary Shares in MTN, from which the bonus shares will be allocated to Asonge investors.
4.How much has Asonge shareholders received in dividends so far?
Asonge shareholders received a dividend of R1.36 per share in 2008 and a dividend of R1.81 per share in 2009.
The National Empowerment Fund Trust was created by statute to promote and facilitate Black economic participation through saving and investment activities and is about to embark on a campaign to promote investor education in the villages and townships across the country, in pursuit of encouraging a culture of savings and investment among its target market.
For any queries investors may call the NEF Contact Centre on 0860 123 NEF (633).
-ends-
2
14h15:
In September 2007 the National Empowerment Fund, an agency of the dti, offered half of its 1,5% shareholding in MTN to Black (African Coloured and Indian) investors at a 20% discounted retail price as part of its mandate to promote a culture of savings and investment among Black people in South Africa.
Sold at an offer price of R73,84 to more than 86 000 Black investors, Asonge was hailed as a historic success after having been oversubscribed countrywide by 13%. The NEF had originally allocated 10,64-million MTN ordinary shares to Black individuals, savings and investment groups. However, the Board of Trustees of the NEF subsequently approved the allocation of a further 1,4-million shares in order to provide for the oversubscription and to ensure a full allocation of shares to qualifying applicants.
Asonge investors comprised Black individuals as well as Black savings and investment groups such as stokvels, burial services, trusts, cooperatives, church groups and others.
Today the NEF is pleased to remind its Asonge investors that as originally undertaken, those who stayed invested for the full investment period of 24 months would be rewarded with an additional
These bonus shares are being awarded at the exclusive cost to the NEF as part of its patriotic commitment to bridging the economic divide, and will not amount to any cost for the investor.
Previous Page | Next Page
Currently, there are no comments. Be the first to post one!
You must be logged in to post a comment. You can login here