MTC to reserve 29% shares as free float on NSX-CRAN

March 7, 2018, 7:03pm

Resolutions from a board meeting by the Communications Regulatory Authority of Namibia (CRAN) have finalised that Mobile Telecommunications Limited (MTC) must reserve 29% of its shares for locals or private investors, as it lists on the Namibia Stock Exchange.

This is subject to sections 35 and 46 of the Communications Act.

In a document made available to The Villager, a CRAN board meeting that took place on Monday approved for the transfer of the control of class comprehensive telecommunications service licence and all spectrum use licences issued to MTC to Namibia Post and Telecom Holdings from Samba DutchCo. B.V.

In the document which is signed by CRAN board members, MTC has been directed to list on the stock exchange within a period of 12 months from the date the resolution is communicated to the petitioner.

 It has further been resolved that MTC must provide the regulatory authority with bi-monthly reports on progress made in the implementation of the solution.