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Group financial statements
Notes to the condensed consolidated
annual financial statements
– continued
for the year ended 31 March 2017
22 Significant events
Results of theTelkomAnnual General Meeting regarding directors’ re-appointments
On 24 August 2016, all board members who were up for re-election were re-elected as per the Annual General Meeting ordinary
resolutions.
Dividends
TheTelkomboard declared an ordinary dividend of 270 cents per share on 6 June 2016 payable on 4 July 2016 to shareholders
registered on 1 July 2016.
TheTelkomboard declared an interim dividend of 131.23874 cents per share on 11 November 2016 which was payable on
5 December 2016 to shareholders registered on 2 December 2016.
Employee Share Plan
During April 2016,Telkompurchased 3 710 126 shares from the market through Rossal, a wholly owned subsidiary for the purposes of
the employee share plan.
TelkomEnterprise and Business Connexion (BCX) Integration
On 6 June 2016,Telkom announced its intention to integrateTelkomEnterprise into BCX. BCX operates as the Business to Business arm
of the largerTelkomgroup. As from November 2016, theTelkomEnterprise business has been integrated into BCX. The integration
enables theTelkomgroup to offer Enterprise solutions beyond connectivity and to strengthenTelkom’s leadership in the Enterprise
market.
Allocation of shares in terms of theTelkomEmployee Share Plan
On 3 June 2016, the board approved the fourth allocation of shares to employees in terms of its Employee Share Plan. The number of
shares that vests will depend on the extent to which the performance conditions are met at the end of the applicable vesting period.
Vesting and sale of shares
In terms of theTelkomShare Plan 161 627 and 64 685 shares vested to Sipho Maseko and Deon Fredericks respectively. On 4 July 2016,
Sipho Maseko disposed of 145 907 shares. On 5 July 2016, Sipho Maseko and Deon Fredericks disposed of 15 720 and 25 581
shares respectively.
Appointment of non-executive director
Telkomhas announced on 20 October 2016 that Dr Hamadoun Touré has been appointed to the board of directors as a non-executive
director with effect from 19 October 2016.
Resignation of non-executive director
Telkom announced on 3 November 2016 that Ms Nunu Ntshingila (Njeke) had informed the board of her resignation as director with
effect from 3 November 2016.