FAQs
If you have a question on how Phuthuma Nathi shares work, this is the place to get all the answers.

General Trading Information

General Trading Information

What is trading?

Trading is the process whereby the shareholders of Phuthuma Nathi sell their shares to other qualifying black South Africans or entities that buy the shares.

MultiChoice implemented an extensive communication campaign to educate its then current shareholders and prospective shareholders in 2011. This included communicating directly with then current shareholders, a process started during the AGM in September 2011. Other communication methods included the internet, call centre, media (print and electronic), Facebook and an information video that looped on DStv.

Rigorous verification processes have been put in place to ensure that only qualified black South Africans and groups are in the scheme. As per the rules, if a person is found to be fronting, we can buy back their shares at par value 0.0000001 cents.

General Trading Information

Who qualifies to participate?

African, Coloured or Indian people who are natural persons and citizens of the Republic of South Africa by birth or descent. Only black South African groups who are citizens of the country by naturalisation before 27 April 1994 or became citizens of the Republic after 27 April 1994, but who, under apartheid policy, would have been entitled to acquire citizenship by naturalisation before that date.

General Trading Information

How do I trade shares?

In late 2018 the PN shares were listed on the Equity Express Securities Exchange (EESE) a licensed and regulated securities exchange. You can buy or sell shares via the EESE trading platform or by calling the Phuthuma Nathi contact centre on 0860 116 226.

General Trading Information

What are the requirements to trade?

For existing shareholders, you need to first verify your status to be able to buy or sell shares. If you are not a shareholder, you first need to register before you are able to buy shares. Verification and registration can be conducted directly through the internet or by telephone. Certain FICA and BEE documentation might be required. These include: A copy of your South African ID document or smart ID card; a selfie/portrait holding your original ID close to your face; BEE certificate, bank statement not older than three months (not an internet statement); or a signed and stamped letter from your bank confirming your banking details. You will also be required to accept terms and conditions and the client mandate agreement after which a trading account will be opened.

The fees charged are 1,5% of the value of the trade, VAT and securities transfer tax. The fees are for the management of the service and tax.

Your order to sell will remain on the system for 90 days (unless you ask for a shorter period) and if it is not matched by the end of that time, your order will lapse and the shares will remain yours.

General Trading Information

When did trading start?

Phuthuma Nathi shares could be traded from 8 December 2011. Trade instructions can be submitted via the online trading platform or the contact centre on 0860 116 226.

The trading platform will remain in operation until Phuthuma Nathi ceases to exist. All shareholders will be informed if there is any change to this.

General Trading Information

What are the trading hours?

Trading hours are weekdays between 9am and 5pm excluding public holidays. Shareholders can load buy bids and sell offers outside of trading hours via the online trading platform, but these will only be matched within trading hours.

Go to the online trading platform and log in using your shareholder number/EESE account code and password.

An existing shareholder or authorised representative of a shareholder will have received a shareholder number/EESE account code and password by SMS on verification. A new shareholder or authorised representative of a shareholder will receive an EESE account code and password by SMS after their registration is complete.

General Trading Information

What do I do if I forget my password?

Call the contact centre on 0860 116 226 and ask a consultant to reset your password for you or visit the online trading platform and click on the “reset password” link and follow the prompts. You will be sent a new password via SMS.

Call the contact centre on 0860 116 226 and ask a consultant to provide you with your EESE account code.

General Trading Information

What if I do not receive an SMS?

Call the contact centre on 0860 116 226 to update your cellphone number and reset your log-in details.

General Trading Information

How do I change my password?

Log in to the online trading platform by entering your shareholder number/EESE account code and click on “Change Password”. You will be asked to enter the old password first before changing to the new password.

Pending trade instructions remain in the matching engine for a maximum of 90 days or less depending on what you stipulated at the time of loading. You can re-submit a trade request via the online trading platform or the contact centre on 0860 116 226, if you wish to do so. The alternative is to do nothing if you no longer want to buy or sell shares for the moment.

You can speak to any of the consultants in the Phuthuma Nathi contact centre on 0860 116 226. Alternatively, you can email a consultant at phuthumanathi@singularservices.co.za and they will endeavour to respond in the quickest possible time.

You will receive an SMS notifying you that your trade has been matched.

Please refer to the website for the latest share prices.

The net asset value per share, or NAV per share, is the net worth of one share in Phuthuma Nathi and is determined using a volume-weighted average price (VWAP) of the MCSA share price for any particular month.

This is an open market and the market price is determined by what the sellers and buyers in the market are willing to sell their shares at and buy their shares for.

General Trading Information

What price should I trade my shares at?

Phuthuma Nathi and its consultants are not registered brokers and cannot provide investment advice. This is your choice to make. You should seek investment advice from a financial adviser or broker in this regard. We merely facilitate the trading process. However, shareholders have access to the following information on the Phuthuma Nathi website or via the call centre to help with price-setting: A history of the last 20 trades and the prices at which the shares were traded. The five lowest prices that sellers are prepared to sell their shares for and the number of shares. The five highest prices that buyers are prepared to pay for shares and the number of shares.

General Trading Information

How are trades matched?

Trade requests (buy bids and sell orders) are first ranked according to the price you request. Trade requests of the same price are ranked depending on when they entered the market. Any subsequent trade requests will be immediately executable if it is a buy bid at a price at or above the lowest sell offer in the market or a sell order at a price at or below the highest bid in the market.

General Trading Information

How do I cancel a pending trade request?

Log on to your trading profile using your EESE account code and password and go to the “Trading” – “View / Cancel Orders” section to cancel your pending trade request. Alternatively, you can call the contact centre on 0860 116 226 to update these details. Any partial matches that have occurred prior to the cancellation cannot be reversed.

No, but you can cancel the pending trade request and re-submit it at the new price. Any partial matches that have occurred prior to the cancellation cannot be reversed.

Yes, the re-submitted trade request will be treated as a separate transaction and a transaction fee will apply.

The live trade and price information are available on the online trading platform at all times or you can call the contact centre on 0860 116 226 during trading hours.

Yes, log on to your trading profile using your EESE account code and password and go to the “My Account/Profile/Preferences” section to change your communication settings.

Before you buy Phuthuma Nathi shares, you are required to make a deposit into the EESE bank account. The details of this bank account are available on the website, when FICA-verified investors are logged in or can be requested from the contact centre. Please use your EESE account code as a beneficiary reference when making deposits. A failure to use the correct beneficiary reference will result in a delay in processing.

MultiChoice issued the Phuthuma Nathi shares in 2006 as part of its broad-based black economic empowerment scheme, which led to black South Africans owning 20% of the company. If MultiChoice buys the Phuthuma Nathi shares, shareholding from black South Africans will be eroded and the company will not be able to fulfil its BEE obligations. All companies are currently required to have black ownership in terms of BEE.

In terms of the rules of the scheme when it was set up, the minimum number of shares was 20 shares and the maximum number of shares that could be bought by an individual or group was 10% of the total issued shares. This rule still applies and ensures that MultiChoice retains a broad-based shareholding.

MultiChoice conducted research on the best platform to facilitate the buying and selling of the Phuthuma Nathi shares. We then decided to list the Phuthuma Nathi shares on Equity Express Security Exchange (EESE).

Call the Phuthuma Nathi contact centre on 0860 116 226. These requests are handled by the transfer secretaries.

Call the contact centre on 0860 116 226 for the required paperwork. Your relative's estate will be permitted to transfer the shares to an eligible black person having at least a similar or higher BEE status/rating than your relative in terms of the Memorandum of Incorporation.

Take a closer look at our financial information.

Historical Financial Information