Examples of MTN Zakhele Shareholders in a sentence
MTN Zakhele will thus not become a subsidiary of MTN and will continue to exist unless and until MTN Zakhele Shareholders resolve otherwise.In addition, MTN Zakhele’s assets will be reduced following the repayment of its funding obligations such that MTN Zakhele will no longer hold approximately 4% of MTN’s issued share capital but on the basis that it will no longer have any funding commitments (i.e. it will be debt free).
If MTN Zakhele Shareholders do not approve the resolutions required to give effect to the MTN Zakhele Unwinding Scheme (or, for any other reason, the MTN Zakhele Unwinding Scheme fails to become operative), neither the MTN Zakhele Integrated Unwind nor the MTN Zakhele Standalone Unwind will proceed and none of the above unwind options will be available to MTN Zakhele Shareholders.
In terms of the Indicative Capital Structure, based on an assumed level of re-investment of 23.78% of MTN Zakhele Shareholders (by aggregate shareholding), the number of Repurchase Loan Shares is presently calculated to be 11 024 255.
MTN Zakhele will be liable for capital gains tax on the MTN Shares held by it and disposed of in the manner described in the MTN Zakhele Unwind and will also be liable for dividends withholding tax (where applicable) in respect of the MTN Shares distributed to those MTN Zakhele Shareholders who elect to receive cash or MTN Shares.
As such, it is not feasible for this amount not be known at that date.The amendment is therefore aimed at increasing certainty for MTN Zakhele Shareholders as to the MTN Zakhele Scheme Consideration to which they may be entitled under the MTN Zakhele Unwinding Scheme and at enabling the Capital Structure Model to be timeously finalised.
The MTN Zakhele Scheme Circular (including as an annexe thereto, the Prospectus) proposing the MTN Zakhele Unwinding Scheme and including the MTN Zakhele Re-investment Offer will be sent to MTN Zakhele Shareholders on or about 12 September 2016, and will also be made available electronically to MTN Zakhele Shareholders via web platforms.
As explained more fully in paragraph 4.2 above, should the 2016 MTN BEE Transaction proceed, MTN Zakhele Shareholders will have the option to re-invest in the 2016 MTN BEE Transaction.
MTN Zakhele Shareholders will continue to hold their MTN Zakhele Shares and will not receive a distribution of the MTN Zakhele Net Assets as contemplated under the MTN Zakhele Unwinding Scheme (that is, none of the MTN Zakhele Unwinding Scheme Options will be available for distribution to MTN Zakhele Shareholders).
Personnel will not be required to occupy housing that does not meet adequacy standards except for military necessity.
It may be scaled down should public subscriptions under the MTN Zakhele Futhi Public Offer and/or the number of MTN Zakhele Shares in respect of which MTN Zakhele Shareholders elect the Re-investment Option not be sufficient.