| 41. | SIGNIFICANT EVENTS AND TRANSACTIONS |
Results of the Telkom annual general meeting regarding Directors reappointmentsOn 25 August 2021, the following Board members were elected or re-elected as per the annual general meeting ordinary resolutions:
Vesting of sharesIn terms of the Telkom share plan, 198 279 shares vested to Mr Sipho Maseko and 21 674 shares vested to Mr Dirk Reyneke in June 2021. Resignation and appointment of Group Chief Executive Officer (GCEO)Telkom announced on 23 July 2021 that Mr Sipho Maseko would step down as GCEO and Executive Director of the Telkom Group and that the Board had appointed Mr Serame Taukobong as GCEO designate. Telkom further announced on 14 December 2021 that Mr Sipho Maseko would step down with effect from 31 December 2021 and Mr Serame Taukobong would take over the role of GCEO with effect from 1 January 2022. Resignation of Non-executive DirectorsTelkom announced on 1 July 2021 that Mr Alphonzo Samuels, a Non-executive Director, had resigned from the Telkom Board with effect from 1 July 2021. Appointment of Non-executive DirectorsTelkom announced on 1 July 2021 that Mses Olufunke Ighodaro and Ethel Matenge-Sebesho had been appointed to the Board of Directors as independent Non-executive Directors with effect from 1 July 2021.Listing of masts and towers businessIn September 2021, Telkom announced its plan to list its masts and towers business, Swiftnet (Pty) Ltd, on the JSE before the end of March 2022. Following the recent global events, current market conditions and the impact on the Capital Markets, Telkom is following a measured approach as it continues to explore a number of value unlock options. Legal separation of OpenserveTelkom announced in November 2021 that the legal separation of the Openserve business unit is on track. Once finalised, Openserve will be operating as a standalone subsidiary of the Telkom Group. |