MTN Group to repurchase shares to settle MTNZF debt

MTN Group has announced a specific repurchase of its shares from MTNZF as part of the full unwind of MTNZF's broad-based black economic empowerment scheme. The company will repurchase 50,590,890 MTN Group shares, representing approximately 2.68% of MTN Group's issued ordinary share capital, at a price of ZAR 0.0001 per share. This repurchase fully settles the outstanding notional vendor funding (NVF) balance of ZAR 6,431,212,603. The repurchase is scheduled for June 25, 2025, with the shares to be cancelled and delisted around June 27, 2025. The transaction will be funded from MTN's existing cash resources and is in line with the extension of the Scheme's maturity date, designed to allow MTNZF to unwind and settle its obligations. Post-repurchase, the number of treasury shares held by MTN Group remains at 760,979.