How much of MultiChoice is owned by Phuthuma Nathi?
Phuthuma Nathi owns 13.3% and Phuthuma Nathi 2 owns a further 6.7%
What was the original offer price?
R 10 per share
What was the cost of the MultiChoice South Africa (MCSA) shares purchased to provide Phuthuma Nathi shares and who paid the difference between this and the offer price?
The MCSA Empowerment Transaction enabled participants to indirectly own a stake in MCSA, with the funding for 80% of this stake being provided by Naspers through the Phuthuma Nathi preference shares and the remaining 20% being provided by you through your application for the Phuthuma Nathi ordinary shares.
How are the shares in the company performing?
As the shares in the company are not listed and will not be traded for the first five years, there is no current market value. It is therefore not possible to give a value for the shares at any time. However, you will receive the audited financial statements of the company each year in August and these will show how the company is doing.
Why is the AGM held in the middle of the day?
The directors gave consideration to holding the meeting in the evening but encountered problems with finding an appropriate venue. We also took security and transportation into consideration when we determined the time and venue. Shareholders who are unable to attend can still exercise their vote by sending in their proxy forms.
Why is the AGM only held in Johannesburg?
The AGM is required to be held once a year at such place and at such time as the directors may from time to time determine. As the main place of business of MultiChoice is Johannesburg, the meeting is held in Johannesburg.
When will I receive my dividend?
Dividends are only paid out of profits of the company and are not guaranteed. If the company makes sufficient profit to pay the dividend due on the preference shares, then a dividend may also be paid to you.
You will be advised in about August each year if a dividend is being proposed, and if approved at the AGM, it will be paid in about September.
What fees do the directors of Phuthuma Nathi receive?
The directors receive no fees or other remuneration for their services.
I would like to nominate someone to the board of Phuthuma Nathi. How do I do this?
At least three weeks before the meeting, you should inform the company secretary who will advise you of the process to be followed.
Why can I vote at both the MultiChoice and Phuthuma Nathi AGMs?
In terms of the Articles of Phuthuma Nathi, the right to vote at the MultiChoice meetings has been delegated to the members of Phuthuma Nathi.
The proxy form has the words "assisted by" under the place for my signature. What does this mean?
This is to provide for any shareholder who is unable to sign on their own, such as children and persons under the care of the courts. In most cases it is not required.
I will not be able to attend the Phuthuma Nathi AGM. How can I vote?
The documentation posted to you includes a Proxy/Meeting Attendance form. If you will be attending the annual general meeting, you should sign this form and bring it with you to the meeting. It should be presented to the registration counters in order to gain attendance to the meeting and receive voting instructions.
If you are not able to attend the meeting, you can still exercise your right to vote by completing this form in accordance with the instructions on the back of the form and sending it to us.
How frequently and when will there be communication about the shares to the share holders?
You will receive the annual financial statements of the company approximately each August which will give you an update on the performance of the company, as well as details of any proposed dividend which may become payable to you.
My marital status has changed. How does this impact on my Phuthuma Nathi shares?
Please provide us with a certified copy of your marriage certificate so that we can register the shares in your new name.
Money was deposited into my bank account, what is it for?
This is the difference between what you have applied for and what was allocated to you which is R53240 (5324 shares).
I applied for [x] shares but got less.
This is the difference between what you have applied for and what was allocated to you which is R53240 (5324 shares).
How was the allocation of shares made and why did I only get 5 324 shares?
The number of shares applied for was far greater than the number of shares available for purchase. As a result, all successful applicants were allocated shares to a maximum of 5 324 shares or R53 240's worth of shares. In keeping with the broad-based objective of the public offer, it was resolved that, in respect of all verified applications, all applicants that applied for up to 5 324 (R53 240) Phuthuma Nathi ordinary shares will be allocated the full number of Phuthuma Nathi ordinary shares they applied for. Applicants who applied for more than 5 324 shares (R53 240) will receive 5 324 (R53 240) ordinary shares.
So, to summarize, applicants for R53 240 or less, received all the shares that they applied for while those who applied for more than R53 240, received the maximum of 5 324 shares and a refund for the balance of their money.
