MTN Shares Benefits

MTN Shares Benefits

The Amount to be raised

MTN is looking to raise a total of up to GHS 3, 478, 045,900 through the issue and sale of the Offer Shares. The proceeds of the issue will be utilized as follows;

Expected Use of Funds

Payment to the Selling Shareholder for the Sale Shares    ¢1,563,968,324

Payment of dividends to the Existing Shareholders            ¢1,826,899,697

Transaction Costs                                                                 ¢87,177,879

– Cost to be borne by selling shareholder                             ¢46,803,576

– Cost to be borne by MTN Ghana                                        ¢40,374,303

Total Consideration                                                       ¢3,478,045,900

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Cost and Expenses of the Offer

The total cost and expenses of the Offer are not expected to exceed 5% of the Application Funds.

MTN Ghana will pay all costs and expenses out of the Application Funds. Below are the summarized details of the cost of the Offer:

Expense Item Amount                          (GHS)                                  % of Offer

Professional Fees                                  43,155,932                                    1.24%

– Legal Advisory Fees                                 887,500                                   0.03%

– Reporting Accountant Fees                        869,094                                 0.02%

– Financial Advisory and Brokerage Fees       30,965,200                          0.89%

– Receiving Agents Fees                                10,434,138                          0.30%

Regulatory Fees:                                      9,469,748                                   0.27%

GSE Fees                                                7,713,225                                   0.22%

SEC Fees                                                 1,739,023                                   0.05%

Central Securities Depository Fees           17,500                                       0.00%

Other Fees:                                               34,552,199                                0.99%

Registrar of companies                              9,336,370                                 0.27%

Media Publicity, Marketing, Printing, etc.   24,419,554                               0.70%

Systems Development Cost                       796,275                                    0.02%

Total                                                          87,177,879                               2.51%

The table above gives us a picture of the cost and expenses incurred in the offer. The table provides us with the item in question, the cost and the percentage of each. Again the cost and expenses cannot exceed 5% of the application of the funds.

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