Shareholders are advised that Mr. Jacques Schindehütte, the Chief Financial Officer of Telkom SA SOC Ltd,("Telkom") has been suspended by the Board of Directors of Telkom ("the Board") effective 24 October 2013, pending a disciplinary process. The suspension follows the findings of an investigation commissioned by the Board after certain allegations were made against Mr. Schindehütte.
The Board has a duty to investigate and to test the validity of allegations which are brought to its attention through an appropriate process, and will do this fairly, without favour or prejudice.
Mr Deon Fredericks will be acting as Chief Financial Officer of Telkom effective 24 October 2013 and will fulfil this role until such time as the disciplinary process against Mr. Schindehütte is concluded.
24 October 2013
The Standard Bank of South Africa Limited