Last checked at 29 Sep 2022 12:03
Date 29 September 2022
HELIOS TOWERS PLC
EXTENSION OF LONG-STOP DATE REGARDING THE OMANTEL TOWER PORTFOLIO ACQUISITION
On 11 May 2021, Helios Towers Plc ("Helios Towers", the "Company"), the independent telecommunications infrastructure company, announced that it had agreed with Oman Telecommunications Company ("Omantel"), the largest mobile network operator in Oman, to acquire Omantel's passive tower infrastructure portfolio (the "Acquisition"), on the terms and subject to the conditions as set out in the Acquisition Agreements (as summarised and defined in the circular to shareholders dated 19 May 2021 (the "Circular")). As detailed in the Circular, the Acquisition is conditional upon certain conditions being met by the long-stop date for Completion, including approval from the Telecommunications Regulatory Authority of Oman and other statutory authorities in Oman, as may be applicable.
The Company and Omantel are continuing to work to satisfy the outstanding conditions and have agreed to further extend the long-stop date for the Acquisition from 30 September 2022 to 11 November 2022.
Defined terms used but not defined in this announcement have the meanings set out in the Circular.
For further information, please contact:
Helios Towers Investor Relations
Chris Baker-Sams, Head of Strategic Finance and Investor Relations
+44 (0)752 310 1475
Media Relations
Edward Bridges / Stephanie Ellis
FTI Consulting LLP
+44 (0)20 3727 1000
About Helios Towers
· Helios Towers is a leading independent telecommunications infrastructure company, having established one of the most extensive tower portfolios across Africa. It builds, owns and operates telecom passive infrastructure, providing services to mobile network operators.
· Helios Towers owns and operates telecommunication tower sites in Tanzania, Democratic Republic of Congo, Congo Brazzaville, Ghana, South Africa, Senegal, Madagascar and Malawi. Following recent acquisition agreements and subject to regulatory approvals, Helios Towers expects to establish a presence in Gabon and Oman. Including these acquisitions and committed BTS, the Group's total site count is expected to increase from over 10,500 towers to over 14,000.
· Helios Towers pioneered the model in Africa of buying towers that were held by single operators and providing services utilising the tower infrastructure to the seller and other operators. This allows wireless operators to outsource non-core tower-related activities, enabling them to focus their capital and managerial resources on providing higher quality services more cost-effectively.
About Omantel
· Omantel is the first and the leading telecommunications operator in Oman with the most advanced mobile and converged networks in the country, and one of the most prominent telecom operators in the Middle East with leading technologies and initiatives in digital transformation with consolidated group revenues of US$6.3 billion in 2021.
· Omantel has further established its prominence in the Middle East in 2017 post the acquisition of a controlling stake in Zain Group; with a presence now spanning 8 countries.
· Omantel is listed on the Muscat Stock Exchange and majority owned by Oman Investment Authority.