MTN Shares - Blacks Only!

Previously disadvantaged - I am so sick of hearing this term.

16 years and they still want to drag back to the past and always will. We want to move forward yet we always get dragged backwards like with crap like this.

Welcome to the new South Africa, where we are the PRESENTLY disadvantaged
 
But isnt your id number the same as before 1994. Then it will still reflect. This deal only includes people born before then.
 
Osiris85 said:
Previously disadvantaged - I am so sick of hearing this term.

16 years and they still want to drag back to the past and always will. We want to move forward yet we always get dragged backwards like with crap like this.

Welcome to the new South Africa, where we are the PRESENTLY disadvantaged
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Shame.... I feel so sorry for you.
 
I would guess in the brochure. Definition of black: african, coloured and asian that was natural citizens of rsa before 1994. I didnt read this brochure yet, but it is in all the others so far.
 
One interesting thing about these shares is that they are processing the purchases from lowest to highest, so that low income groups who will buy shares have the first chance to do so. Only when all of them are processed does the big bulk purchases go through (if there is anything left). So it won't necessarily be the 'fat cats' buying up all the shares.
 
Kage said:
It is called BEE.
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Punishing the son for the sin's of the father is not going to fix the problem, something must be done to help
the previously disadvantaged, but creating a vicious circle is not moving forward. I think a big problem with the current mindset is that all white people are stinking rich, i for one could not attend university and now I'm earning an average salary also battling to make ends meet, why should i not have access to upliftment?
 
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phoneJunky said:
I would guess in the brochure. Definition of black: african, coloured and asian that was natural citizens of rsa before 1994. I didnt read this brochure yet, but it is in all the others so far.
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This does not mean someone born later than 1994 cannot buy the shares.

It refers to the issue of citizenship, as far as I understand.
 
Yes someone born after 1994 can't get afaik. Tokoyo sekwale said he wanted his kids to also be able to benefit by this shares agreement and there was this big outrage - more about him being rich than the 1994 thing.

And the definition was for who counts as black to eligible for buying the shares.
 
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phoneJunky said:
Yes someone born can't get afaik. Tokoyo sekwale said he wanted his kids to also be able to benefit by this shares agreement and there was this big outrage - more about him being rich than the 1994 thing.
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Well, if it was about him being rich, then by implication you are saying that the fact that someone is born later than 1994 is not an impediment.
 
Looks like it. And impediment feels like the wrong word.
 
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The worst thing is that if the shares fail to perform the BEE shareholders also complain e.g. Sasol Inzalo. You take the risk and live with it. A perfect BEE share is one at 10% of the market price and where the company has to refund the shareholders if they go underwater.
 
I don't understand this "blacks only" thing when it comes to shares. Is it that companies only have a limited number of shares "available" or what? 45mil would be okay, 47mil would not... :confused:

I honestly don't know how these things work. Does it have something to do with voting power at board meetings? :confused:
 
adrianx said:
I don't understand this "blacks only" thing when it comes to shares. Is it that companies only have a limited number of shares "available" or what? 45mil would be okay, 47mil would not... :confused:
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They could issue out more shares if they need more capital which would reduce the current shares value.
 
whites can participate too

Hold on...

Black groups can also apply for the MTN Zakhele shares. And Black Groups are defined as "Black Companies and Black Entities incorporated or formed in South Africa and in which Black People own more than 50% of the equity and participate in more than 50% of the economic interest and exercise more than 50% of the voting rights."

So whites can participate in this deal...???
 
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Kompete said:
Hold on...

Black groups can also apply for the MTN Zakhele shares. And Black Groups are defined as "Black Companies and Black Entities incorporated or formed in South Africa and in which Black People own more than 50% of the equity and participate in more than 50% of the economic interest and exercise more than 50% of the voting rights."

So whites can participate in this deal...???
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something went wrong when I posted this...
 
Kompete said:
Hold on...

Black groups can also apply for the MTN Zakhele shares. And Black Groups are defined as "Black Companies and Black Entities incorporated or formed in South Africa and in which Black People own more than 50% of the equity and participate in more than 50% of the economic interest and exercise more than 50% of the voting rights."

So whites can participate in this deal...???
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Yes they can ... in their capacities as minority shareholders in a black-owned compnay.
 
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