Notes to the financial statements | Note 42

Appointment of Non-executive Director

Telkom announced on 26 April 2022 that Mr Sung Hyuck Yoon had been appointed to the Board of Directors as an independent Non-executive Director with effect from 1 May 2022.

Spectrum auction

The litigation referred to in note 22.2, which was scheduled for hearing in the High Court in early April 2022, was settled amicably between the two parties on 8 April 2022 resulting in the R1 142 million being paid by Werksmans Attorneys to ICASA on 6 May 2022.

Divisionalisation of Yellow Pages (Pty) Ltd

The Telkom Board approved an in-principle decision to divisionalise one of its 100% owned subsidiaries, Yellow Pages (Pty) Ltd, into the Telkom Consumer business unit. It is envisaged that this process will have a positive impact on the operational efficiency of the Group. The process is expected to commence in FY2023, after the implementation plans have been finalised.

Other matters

The Directors are not aware of any other matter or circumstance since the financial year ended 31 March 2022 and the date of this report, or otherwise dealt with in the financial statements, which significantly affects the financial position of the Group and the results of its operations.