MTN Group Limited (MTN) Earnings Call Transcript & Summary

[Audio Gap] we appreciate your presence, and it is pleasing to have our shareholders participate in this general meeting. The general meeting will focus on the 2 special resolutions being tabled for approval. Firstly, the proposed extension of the maturity date of the 2016 MTN Zakhele Futhi broad-based black economic empowerment scheme. And secondly, the repurchases by MTN of the MTN shares from MTN Zakhele Futhi [indiscernible] scheme. Please note that the general meeting will be held in electronic format, which will provide us with an opportunity to engage constructively allowing participants to interact with us from anywhere, making it both easy, efficient and effective. I'm pleased to introduce the other members of the Board who are present today and our group company secretary, [indiscernible], Sindi Mabaso-Koyana; Ms. Newton-King; Mr. Stan Miller; Ms. Nosipho Molope; Dr. Khotso Mokhele; Ms. Tsholo Molefe; Mr. Ralph Mupita, the CEO; Mr. Tim Pennington; Mr. Vincent Rague; Mr. Lamido Sanusi; Mr. Nkululeko Sowazi; and the Group Company Secretary, Thobeka Sishuba Bonoyi. I'd also like to warmly welcome our group ExCo members as well as group executives, transfer secretaries, external legal advisers, sponsors, transactional advisers and external auditors [indiscernible]. Having regard to the quorum requirement applicable to this general meeting and shareholders present at this meeting, personally and by proxy, representing 669,701 ordinary shares being 0.04% of the MTN ordinary shares. I'm holding proxies and letters of representation in respect of [indiscernible] ordinary shares being 90.84% of MTN ordinary shares. As the necessary quorum is present, I declare this meeting duly constituted. The notice convening this meeting has been sent to all registered shareholders as at the date of September [indiscernible] and as I'll take the notice as read. Before we transact the ordinary business of this meeting, I confirm that the company has ensured that all provisions of the company's act, the JSE listing requirements and the company's memorandum of incorporation as well as company policies in relation to this meeting and the special resolutions being proposed at this meeting have been adhered to. We will conduct voting on all resolutions at this meeting [indiscernible]. At this point, I appoint a representative of transfer secretary at Computershare to scrutinize the voting process. I would also like to request that a representative of the external auditors of companies certify the results. I confirm that the representatives are in the meeting. Thobeka?

[indiscernible] Transfer Secretaries, Computershare is represented by Gabriel Russell. [indiscernible] are represented by [indiscernible].

Thank you, Thobeka. Shareholders will have [indiscernible] into the platform with pre-arranged user names and passwords, which will enable you to submit your votes electronically during the meeting. Shareholders have received an online shareholder user guide [indiscernible] circular that explains how the voting platform works. If you are registered [indiscernible] your voting link via e-mail or SMS, please inform the moderator via the [indiscernible] shareholders' user guide. Andre, our representative from Lumi, which hosted the electronic platform [indiscernible] meeting. We'll now play a video, which will provide guidance on the process [indiscernible]. [Presentation] The video has been played. The voting process is open to shareholders. Shareholders can vote and will be able to amend their votes during the course of the meeting. Please note that the voting will stay open until I declare the voting to be closed. We shall do after the Q&A session. For those shareholders that have submitted proxies, this proxies will be implemented and no further action is required from you. [indiscernible] 2 special resolutions that are being tabled at this general meeting on the screen. When voting, kindly indicate your votes by selecting on your voting platform, the appropriate choice you wish to make for each resolution. [Voting] Ladies and gentlemen, we will now open for discussion and respond to questions from shareholders on the proposed [indiscernible] resolution.

Thank you, Chair. Andre, can you just confirm if there are any questions that we are receiving through this platform -- from the shareholders attending the meeting.

At the moment, there are no questions that have come through as of yet. If you could please give it 30 seconds or a minute so that people can finalize typing out any questions and send it through.

Is there any show of hands of any questions that shareholders would wish to present?