General Trading InformationWhat is the difference between Phuthuma Nathi and Phuthuma Nathi 2?
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.
General Trading InformationWhat was the initial cost of the MultiChoice South Africa (MCSA) shares bought to provide Phuthuma Nathi shares and who paid the difference between this and the offer price?
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.
General Trading InformationCan I pledge or use my Phuthuma Nathi shares as a form of security?
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.
General Trading InformationWhen are you going to remove the restriction to trade only between black South Africans?
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.
General Trading InformationWill my shares gain interest the longer I hold them?
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.