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Offer:MTN Zakhele Futhi Shares Overview
MTN Group Limited (MTN) introduced MTN Zakhele Futhi (MTNZF) as its current Broad-Based Black Economic Empowerment (BBBEE) share plan.
| 🔎 Company | 🥇 MTN |
| 📌 Type | Public |
| 📍 Traded as | JSE: MTN |
| ⚙️ Industry | Telecommunications |
| ✅ Founded | 1994 |
| ☑️ Headquarters | Johannesburg, South Africa |
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MTN Zakhele Futhi Shares Overview – 3 Key Point Quick Overview
- ✅ What is MTN Zakhele Futhi?
- ✅ How can you become an MTN Zakhele Futhi Shareholder?
- ✅ How to buy MTN Zakhele shares
What is MTN Zakhele Futhi?
On November 24, 2016, MTN Group Limited (MTN) introduced MTN Zakhele Futhi (MTNZF) as its current Broad-Based Black Economic Empowerment (BBBEE) share plan. With a minimum investment of 100 shares, MTNZF stock was launched in 2016 for R20 per share.
At launch, shareholders of MTN Zakhele had the option of the following:
- Reinvesting at least 50 of their shares in the new BBBEE share program.
- Receiving cash in exchange for their shares.
- Receiving MTN shares.
Through MTN Zakhele Futhi, members of the Black Public who meet certain criteria may invest in and own shares of MTN Group, a pioneer in the developing markets telecoms industry. The 77 million MTN Group Shares held by MTN Zakhele Futhi represent almost 4% of the company’s outstanding share capital. MTNZF’s 4% ownership bolsters MTN’s position as a premier BEE-driven telecoms provider in MTN and other transformation and empowerment activities.
How can you become an MTN Zakhele Futhi Shareholder?
To participate, you must meet the criteria for qualified shareholders established by the MTN Zakhele Futhi plan. In addition, you need to be a certified shareholder and have gone through the BEE verification procedure.
Those eligible for MTN Zakhele Futhi include the following:
Black People
Individuals of African, Colored, or Indian heritage who were born in South Africa or whose ancestors were born there; those who became citizens of South Africa by naturalization on or before April 27, 1994; and those who became citizens after that date but who met the requirements for naturalization on or before that day.
Minors (i.e., Black people under the age of 18). However, minors must be accompanied by a parent or legal guardian.
Black Groups
Black Businesses and Black Organizations, as defined. On a flow-through basis, these are firms or entities established or created in South Africa in which Black people hold at least 51 percent of the stock, exercise at least 51 percent of the voting rights, and participate in at least 51 percent of the economic interests.
Shareholders of MTN Zakhele Futhi can exchange their shares using one of the following trading procedures and are needed to be authenticated according to that trading process:
- Facilitated Trading Process
- Independent Trading Process
How to buy MTN Zakhele shares
Shareholders of MTN Zakhele Futhi may either maintain, purchase extra, or sell their shares through one of the following trading options:
- The Trade Facilitation Process
- The Unregulated Market Procedure
MTN Zakhele Futhi has engaged Nedbank Private Wealth Stockbrokers (NPW) as its preferred stockbroker for trading on the Johannesburg Stock Exchange (JSE). The “Facilitated Trading Process” indicates that shareholders will use NPW as their broker to maintain, purchase extra, or sell MTN Zakhele Futhi shares. One of the benefits of this trading process is that MTN Zakhele Futhi will subsidize the shareholders’ share custody fees. The “Independent Trading Process” is for MTN Zakhele Futhi shareholders who desire to hold or trade their shares via their own broker or agency. Please note that MTN Zakhele Futhi does not subsidize this option.
Frequently Asked Questions
Do I earn dividends from my MTN Zakhele Shares?
You will not receive a dividend during the first three years of your investment, also known as the Minimum Investment Period.
However, from the fourth year of your investment, you can earn dividends if the MTN Zakhele Futhi Board decides to distribute dividends.
Can I sell my MTN Zakhele Futhi shares?
You can buy, sell, or retain shares through a facilitated or independent trading process.
How much do MTN Zakhele Futhi shares cost today?
The shares of MTN Zakhele Futhi (JSE: MTNZF) are 20.50 ZAR (2022/11/10).
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