Telekom Networks Malawi Plc (TNM) a listed company on the Malawi Stock Exchange(MSE) has disclosed a proposed related party transaction involving a shareholder loan from Press Corporation Plc (PCL), a major stakeholder holding 43.72% of TNM’s share capital. This transaction, disclosed in accordance with the Malawi Stock Exchange (MSE) Listings Requirements, is aimed at addressing TNM’s immediate financial obligations.
Transaction Details
- Loan Amount: Up to MK4.5 billion (Four Billion Five Hundred Million Kwacha).
- Interest Rate: National Bank of Malawi’s reference rate plus 4.5%.
- Repayment Period: 12 months.
- Purpose: The funds will be used to settle urgent obligations, ensuring TNM’s operational continuity and safeguarding service delivery, which are critical for shareholder value.
