for the year ended 31 March 2011
On 31 March 2011, Telkom and Visafone Communications Limited ("Visafone") entered into a legally binding agreement to sell Multi-Links' CDMA business to Visafone, subject to certain conditions precedent. Certain conditions precedent have not been met and the transaction will not proceed.
The Telkom Board resolved on 10 June 2011 to stop all funding to Multi-Links Telecommunications Limited.
The Telkom Board declared an ordinary dividend of 145 cents (2010: 125 cents) per share and a special dividend of Nil cents (2010: 175 cents) per share on 10 June 2011, payable on 11 July 2011 to shareholders registered on 8 July 2011. The Secondary Taxation on Companies impact is R47 million.
The directors are not aware of any other matter or circumstance since the financial year ended 31 March 2011 and the date of this report, or otherwise dealt with in the financial statements, which significantly affects the financial position of the Group and the results of its operations.