Outlook Having completed the turnaround phase of its strategy, Telkom is embarking on the next phase, the transformation to growth of its business. s NSR Issuer Rating (local currency) has been repositioned to Aa2from A2 s new NSR (Aa2.za) is one notch higher on the rating scale than the previous NSR (A2) The principal methodology used in rating Telkom was Global Telecommunications Industry published in December 2010 and the last rating action taken was on 1 October 2012. The 31 March 2016 results to be reported on includes the impact of the company?
This entails moving from an efficiency to a growth bias as the company focuses on implementing its new operating model, while maintaining a cost efficiency focus. ) of 17 South African non-Financial corporates in conjunction with the recalibration of the South African national rating scale. The detailed press release regarding this is available for viewing on the Moody? s voluntary early retirement (VERP) and voluntary severance packages (VSP) offered to employees over the twelve month period of approximately R2.2 billion with a related tax impact of approximately R500 million that are not considered results from normal business operations.
Telkom is currently finalising its annual results for the twelve months ended 31 March 2018, which will be released on the Stock Exchange News Service (? This is due to a significant increase in our effective tax rate from the 15.2% in the prior year to slightly below the South African corporate tax rate and higher labour costs driven by both inflationary and market related adjustments. s reported earnings were impacted by voluntary severance packages (VSPs) and voluntarily early retirement packages (VERPs) of R66 million with a related tax benefit of R13 million.31 March 2017 Reported earnings; Expected change and 31 March 2018 Expected earnings *Basic earnings per share Reported: 738.8 cents; 15% ? 554.1 cents *Excluding VSP and VERP: 749.1 cents; 15% ? 561.8 cents *Headline earnings per share Reported: 721.1 cents; 15% ? 541.1 cents *Excluding VSP and VERP: 731.4 cents; 15% ? 548.6 cents The Group's annual results for the twelve months ended 31 March 2018 will be released on SENS on with a presentation in Centurion on the same day. s conservative capital structure combined with an expectation for single-digit net revenue growth and an average EBITDA margin of about 24% is what S-P cited as the primary reasons for maintaining our current rating position.
Excluding BCX, our operating expenses remained flat as we benefited from our multiyear transformation initiatives.
s Annual Financial Statements for the year ended 31st March 2018 where after they will retire as auditors to Telkom on 22 August 2018 following 20 years of service. This rating action is in line with the government of South Africa? s foreign currency long-term sovereign credit rating on 24 November 2017. Telkom is not aware of any current decision taken by the Government with regards to its shareholding. s Telkom Proposal may have a material effect on Telkom? Accordingly, shareholders are advised to exercise caution when dealing in Telkom? ), has been posted to shareholders today, Tuesday, 25 July 2017. The record date for shareholders to attend, participate in and vote at the AGM is Friday, 18 August 2017. The above information has not been reviewed nor reported on by Telkom? The group's annual results for the twelve months ended 31 March 2017 will be released on SENS on 5 June 2017 with a presentation in Johannesburg on the same day. The presentation will be available for all stakeholders on the Group's website, . The record date for shareholders to attend, participate in and vote at the AGM is Friday, 19 August 2016.
Noteholders are hereby advised of the amendment to Telkom? s bond rating, which reflects the view that the previous weakening of South Africa? s position as a leading telecommunications operator, with a leading market position in South Africa? For further commentary on the rating please refer to the Moody? Telkom is at risk from the suppressed economic growth and business / consumer confidence in South Africa, being the primary market from which its revenue is derived. Therefore, Telkom is withdrawing the cautionary announcement and caution is no longer required to be exercised when dealing in Telkom? Holders are advised that the Annual Financial Statements of Telkom for the year ended 31 March 2017 have been published on the Company? s securities until a further announcement is made in this regard. There has been no change in the consolidated annual financial statements following the release of the condensed consolidated provisional annual results released on the Stock Exchange News Service of the JSE Ltd. Accordingly, the last day to trade to attend, participate in and vote at the AGM is Tuesday, 15 August 2017. The presentation will be available for all stakeholders on the group's website, . Shareholders are advised that the voting results for the Annual General Meeting (? ) of Telkom held at 10h00 on Wednesday, 24 August 2016 at JSE Ltd., No. 2 Gwen Lane, Sandton were all resolutions were passed by the requisite majority of Telkom shareholders present in person or represented by proxy at the AGM. s Integrated Report and Annual Financial Statements for the year ended 31 March 2016 (? Accordingly the last day to trade to attend, participate in and vote at the AGM is Tuesday, 16 August 2016.
s credit rating following the confirmation of South Africa? s institutions will gradually reverse under a more transparent, predictable policy framework. s has noted that the Baa3 rating assumes that Telkom will not experience any difficulties in terms of liquidity, refinancing or funding and will therefore be able to meet its financial and operating commitments. s press release on their website: https:// are advised that Mr Sello Moloko and Ms. ) lowered its long-term corporate credit rating on Telkom to 'BB ' from 'BBB-'. However, Telkom's solid business and financial risk profiles and adequate liquidity help maintain its stand-alone credit quality. s website and are available at the following link: Shareholders are advised that Telkom? Shareholders are advised of the voting results for the annual general meeting (? ) of Telkom held at 10h00 on Thursday, 24 August 2017 at Telkom Park, The Nexus Building, 91 Oak Avenue, Highveld, Centurion. Shareholders are hereby advised that the integrated report containing the condensed consolidated annual financial statements for the year ended 31 March 2017, incorporating the notice of the annual general meeting (? B-BBEE compliance report In compliance with paragraph 16.20(g) of the Listings Requirements of the JSE Ltd., shareholders are advised that Telkom? Due to the recent rating action taken by S-P Global Ratings (? According to Business Report, Finance Minister Pravin Gordhan has relieved Telkom from complying with the Public Finance Management Act (PFMA) with immediate effect.
s Government issuer rating of Baa3 on 23 March 2018. Dolly Mokgatle have been appointed to the board of directors of the company (? ) as independent non-executive directors with effect from 20 March 2018. The stable outlook reflects the stable outlook on South Africa, and incorporates S-P? s major shareholder, the Government of the Republic of South Africa (? ), is currently considering various strategic options with regards to partially reducing its current approximate 39% shareholding in Telkom (? Based on the results, all of the ordinary and special resolutions were passed by the requisite majority of Telkom shareholders present in person or represented by proxy at the AGM. s annual compliance report in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Act has been published and is available on the Company? Noteholders are hereby advised of the amendment to Telkom? Telkom spokeswoman Jacqui O'Sullivan said the company welcomed this historic move as public tenders were time consuming and publicised the business's plans too early.