Settlement of arbitration
proceedings and litigation
Telkom shareholders are advised that:
- the arbitration proceedings between a Blue Label
subsidiary, Africa Prepaid Services Nigeria Limited ("APSN") and
the former subsidiary of Telkom, Multi-Links Telecommunications
Limited ("Multi-Links") has been settled; and
- the litigation action in the High Court of South Africa
between Telkom and Multi-Links, on the one hand, and Blue Label,
Africa Prepaid Services (Pty) Ltd, APSN and certain individuals,
on the other, has been settled.
In terms of the Settlement Agreement all claims and
counterclaims have been withdrawn and all of the parties have
agreed that they will have no further claims against one another
arising out of the disputes forming the subject of both the
arbitration proceedings and the action, including any claims for
costs.
Pretoria
10 December 2014
Sponsor
The Standard Bank of South Africa Limited