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Suspension of Telkom GCFO

The Board of Telkom has suspended the company's Chief Financial Officer, Mr Jacques Schindehütte, pending a disciplinary process.

The Board was recently made aware of certain allegations and appointed an independent law firm to investigate them. The results of the investigation were presented to the Board, and the Board took professional advice about the correct way to deal with the report.

The Board was advised to suspend Mr Schindehütte, pending a disciplinary hearing.

"The Board of Directors is determined to act responsibly and to uphold all governance requirements," said Telkom Group CEO Sipho Maseko.

"We have a duty to investigate and to test the validity of allegations which are brought to our attention through an appropriate process. We will do this fairly, without favour or prejudice.

"The Board and the Company will ensure that the correct procedures will be implemented to manage this matter in a fair manner.

"All our stakeholders will be informed of the outcome of the disciplinary hearing once the matter is concluded. Until then, the company is not in a position to provide more information," said Mr Maseko.

Telkom has appointed its Deputy Chief Financial Officer, Mr Deon Fredericks, as Acting Chief Financial Officer to ensure there is continuity in the financial management function.

For further enquiries, please contact:

Telkom Park, The Apex 92 Oak Avenue Technopark Highveld Centurion

As of 30 September 2015, we had approximately 3.3 million telephone access lines in service and 1,030,441 ports connected via MSAN access. We offer business, residential and payphone customers a wide range of services and products, including:

• fixed-line retail voice services using PSTN (Public Switched Telephone Network) lines, including ISDN (Integrated Services Digital Network) lines, and the sale of subscription based value-added voice services and calling plans;
• fixed-line customer premises equipment rental and sales services both voice and data needs and these include PABX, Computers, Routers, Modems, Telephone handsets and other ancillary equipment;
• interconnection services, including terminating and transiting traffic from South African mobile operators, as well as from international operators and transiting traffic from mobile to international destinations;
• fixed-line data services, including domestic and international data transmission services, such as point-to-point leased lines, ADSL (Asymmetrical Digital Subscriber Line) services, packet-based services, managed data networking services and internet access and related information technology services;
• Data Centre Operations includes e-commerce, application service provider, hosting, data storage, e-mail and security services;
• W-CDMA (Wideband Code Division Multiple Access), a 3G next generation network, including fixed voice services, data services and nomadic voice services;
• mobile communication services, including voice services, data services and handset sales through our mobile navbar-brand called Telkom Mobile;
•  information and communication services including cloud services, infrastructure services, workspace services, global service integration management and hardware and network equipment sales locally, in seven African countries, the UK and Dubai through Business Connexion Group; and
• other services including directory services, through Trudon (Pty) Ltd, wireless data services, through Swiftnet (Pty) Ltd.

Convergence is one of our key strategic initiatives in building a sustainable future for Telkom.  We will lead the provision of converged services in South Africa in support of our mission statement: Seamlessly connecting people to a better life.