MTN Zakhele Futhi RF Limited MTNZF has issued a Circular to its shareholders regarding a proposed scheme of arrangement, which the company emphasizes requires immediate attention. The core of the document outlines a scheme of arrangement proposed by the MTNZF Board between the company and its Scheme Participants, in line with sections 1141c and 1141e of the Companies Act.
If the scheme is implemented, MTNZF will repurchase and cancel all Scheme Shares, which are all the MTNZF Shares save for the Excluded MTNZF Shares. The consideration for this repurchase is set at ZAR0.15 15 cents per Scheme Share, plus an additional variable payment, known as the Agterskot Payment, if any. Crucially, the scheme will also result in all MTNZF Shares being delisted from the BEE Segment of the main board of the JSE.
The key event for shareholders is the Scheme Meeting, scheduled to be held entirely by way of electronic communication at 10h00 on Thursday, 15 January 2026. This meeting is for shareholders to consider and vote on the necessary resolutions. Following approval, the last day to trade MTNZF Shares on the JSE to participate in the Scheme is expected to be on or about Tuesday, 24 February 2026. The Scheme Consideration Record Date and the Effective Date are expected to be on or about Friday, 27 February 2026, with the ultimate termination of the listing on the JSE expected to commence on or about Tuesday, 3 March 2026.
