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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In terms of the Settlement Agreement all claims and counterclaims have been withdrawn and all of the parties have agreed that they will have no further claims against one another arising out of the disputes forming the subject of both the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