These 4 simple cartoons explain Vodacom’s complicated new YeboYethu BEE deal, worth R17.5 billion
- Vodacom's new R17.5 billion structure will take a series of complicated transactions to complete.
- The company issued a 7,000 word explanation to shareholders – before a teleconference with analysts to dig into the details.
- But a short cartoon for its existing YeboYethu shareholders captures the details in a much more accessible manner.
Vodacom on Monday announced its existing empowerment shareholders will receive a total dividend payment of a little over R3 billion as part of a series of transactions in which it will set up a new, 10-year BEE structure.
The process of winding up the current YeboYethu scheme and replacing it with a new one will be complicated. Vodacom issued a 7,000-word statement to shareholders to explain it, and is due to hold a teleconference with analysts on Monday afternoon.
Vodacom estimates the new structure will be worth R17.5 billion.
Vodacom's share price was down 2% in morning trade, in part, analysts said, because the full impact of the new scheme was not yet clear.
See also: Vodacom just announced a R3 billion payday for its BEE investors – here’s how its YeboYethu scheme will now change
But YeboYethu offered its shareholders a simple series of cartoons to explain the plan, informally.
YeboYethu has also promised to publish a series of video tutorials around the transaction, and plans to hold roadshows on it.
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