YeboYethu, Vodacoms B-BBEE investment scheme has resorted to alternative communication schemes in order to meet its deadlines as a result of the strike hitting the the South African Post Office.
In a statement released yesterday, YeboYethu said it had intended to post the circular containing full details of its newly proposed B-BBEE transaction and a notice of general meeting to shareholders on or about Monday, 16 July 2018.
“Given the timing of the requirement to obtain necessary regulatory approvals and the ongoing strike by a substantial number of employees of the South African Post Office, delivery of the circular through the postal service is not achievable within the initial timeline,” said the statement.
As such YeboYethu has secured an order from the Gauteng High Court, authorising it to deliver the circular by alternative means including SMS and/or publication in the press. “YeboYethu will, as such, and in addition to posting the circular, give notice of the availability of its circular (for physical collection and electronic download) by SMS and publication in the press.
The YeboYethu B-BBEE transaction timeline have been updated to accommodate the delay and the alternative delivery process.
The schemes annual report for the financial year ended 31 March 2018 has been sent to shareholders. The Annual Report incorporates the notice of annual general meeting, which meeting will be held at Vodacom World, 082 Vodacom Boulevard, Midrand at 10:00 on Friday 17 August 2018.
Copies of the circular and the Annual Report may be obtained during normal business hours from Wednesday 18 July 2018 until Friday 17 August 2018 from:
– the registered offices of YeboYethu (Vodacom Corporate Park, 082 Vodacom Boulevard, Midrand, 1685); or
– the transfer secretaries (Link Market Services South Africa (Proprietary) Limited, 13th Floor, 19 Ameshoff Street, Braamfontein, 2001); or
– the transaction sponsor (Absa Bank Limited (acting through its Corporate and Investment Banking division), North Sandton Campus, 15 Alice Lane, Sandton, Johannesburg, 2196).
Copies of the circular and Annual Report are also available to be read or downloaded from the YeboYethu website at https://www.yeboyethu.co.za/pdf/2018/circulars/yy-new-bbbee-
transaction.pdf and https://www.yeboyethu.co.za/pdf/annual-report/2018/annual-report-2018.pdf, respectively.
Any shareholder may:
– request for a copy of the circular and Annual Report to be emailed to them;
– find out the closest place they can obtain a copy of the circular and Annual Report; or
– ask questions in relation to the circular and Annual Report, by contacting the YeboYethu contact centre on 082 241 0001 or email
Alternatively, a copy of the circular will also be available for inspection (electronically or in hard copy) at all Vodacom stores in South Africa.