A company qualifies to be a PN shareholder when it is black owned. This is defined in the BBBEE codes as an entity with a 51% or more black shareholding.

Phuthuma Nathi owns 25% of MCSA.

The Phuthuma Nathi (PN) and Phuthuma Nathi 2 (PN2) share schemes were mirror images of each other as they both held an interest in MultiChoice. PN was launched in 2006 and PN2 in 2007.

The two schemes, PN and PN 2, were combined into one scheme in late 2019 to make it easier for shareholders to trade and to improve liquidity by having all shareholders trading one share. Every PN2 shareholder received one PN share for every PN2 share held.

When the schemes were initially set up, the cost of the share was R50 with the offer price being R10. The R40 difference was funded through preference shares. 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.

Participants are not, and will not, be entitled to enter into any agreement in terms of which their Phuthuma Nathi ordinary shares are used as security or encumbered in any other manner. The shares lose their black empowerment status when encumbered.

Your Phuthuma Nathi shares will not expire.

The Phuthuma Nathi scheme was created to meet our BBBEE and broadcast license requirements, therefore for as long as those requirements are in place, the scheme will not expire. Other BBBEE schemes such as in the mining and telecommunications industry have specific requirements which are not the same as ours.

All companies are currently required to have black ownership in terms of B-BBEE. We will only reconsider the restriction if this regulation falls away.

Phuthuma Nathi directors receive fees which are approved at the Annual General Meetings.

Click here to see more information about Phuthuma Nathi Investments.

No, your shares will not gain any interest as they are not interest-bearing assets. The value of your shares may increase or decrease based on the market.

• This Reorganisation will ultimately place Phuthuma Nathi in a better economic position and give rise to a number of direct benefits to Shareholders most notably: Phuthuma Nathi will increase its effective shareholding in certain businesses of MCSAH resulting in an increase in Phuthuma Nathi’s share of distributions in certain entities currently in the MCSAH Group, specifically LicenceCo.
• A formalised distribution policy at LicenceCo level should provide a more sustainable dividend flow from LicenceCo.
  • Additional detail is set out in the Phuthuma Nathi Circular which can be accessed at phuthumanathi.co.za.