MTN Zakhele Unwinding Scheme definition

MTN Zakhele Unwinding Scheme means the scheme of arrangement pursuant to section 114 of the Companies Act to be proposed by the MTN Zakhele Board as between MTN Zakhele and the MTN Zakhele Shareholders, for the purposes of MTN Zakhele buying back and cancelling all of the MTN Zakhele Ordinary Shares from MTN Zakhele Shareholders (other than the MTN Zakhele Ordinary Share to be held by MTN or its subsidiary), and pursuant to which scheme and subject to the terms thereof each MTN Zakhele Shareholder will be entitled to elect to receive
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MTN Zakhele Unwinding Scheme means the scheme of arrangement pursuant to section 114 of the Companies Act proposed by the board of directors of MTN Zakhele as between MTN Zakhele and the ordinary shareholders of MTN Zakhele, for the purpose of MTN Zakhele buying back and cancelling all of the ordinary shares in the issued share capital of MTN Zakhele from the ordinary shareholders of MTN Zakhele (other than such share held by MTN Holdings), pursuant to which scheme and subject to the relevant terms and conditions, inter alia, each ordinary shareholder of MTN Zakhele will be entitled to elect to receive one or more of: (i) ordinary shares in the ordinary issued share capital of MTN; (ii) cash consideration; (iii) BIC2 Consideration Shares; or (iv) a combination of the items listed in the BIC2 MOI;
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Examples of MTN Zakhele Unwinding Scheme in a sentence

  • Steps 8, 9, 10, 11 and 12 will only be implemented if all of the General Scheme Conditions are satisfied or waived, as the case may be, and MTN Zakhele Unwinding Scheme becomes operative).

  • Following the implementation of the MTN Zakhele Unwinding Scheme (both in the event of the implementation of MTN Zakhele Integrated Unwind or the MTN Zakhele Standalone Unwind, as the case may be), MTN Zakhele will become a wholly-owned subsidiary of MTN Holdings and MTN Holdings will undertake and manage the orderly unwinding and deregistration of MTN Zakhele in due course.

  • 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.

  • If the MTN Zakhele Unwinding Scheme proceeds, MTN Zakhele will be consolidated by MTN after the unwind transaction.

  • In terms of the MTN Zakhele Futhi Offer, which closed at 16h00 on Friday, 28 October 2016, an invitation was made (i) to the black public (individuals and groups) to subscribe for MTN Zakhele Futhi Ordinary Shares; and (ii) to qualifying MTN Zakhele Shareholders to re-invest all or a portion of their investment in MTN Zakhele into MTN Zakhele Futhi Ordinary Shares in accordance with the terms of the MTN Zakhele Unwinding Scheme.

Related to MTN Zakhele Unwinding Scheme

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