Telkom has warned that its shareholders must verify their identities in line with the Financial Intelligence Centre Act 38 of 2001 (FICA), or risk being unable to buy or sell shares.
In line with FICA, which was passed into law as part of government`s efforts to combat money laundering, institutions such as estate agents, brokers, attorneys and insurance companies need to re-identify and verify the details of all their clients.
Telkom says in a statement that 'high risk` shareholders with a value of shares exceeding R15 000 have until the end of October this year to verify their identity, while 'low risk` clients, whose value of shares is below R15 000, have until 30 June 2005.
As registrar and custodian of Telkom`s shareholders, Computershare is also required to implement "reasonable measures to know its customers and prevent criminals from using false or stolen identities to gain access to its services".
However, unlike most banking institutions where customers have to physically identify themselves at a branch, Computershare, which has only one office in Johannesburg, will comply by asking its customers to send the required documentation to it by post.
Telkom shareholders whose shares are administered by Computershare can post original certified copies of their identity documents, proof of banking details and proof of residential address to Computershare at PO Box 61487, Marshall Town, 2107. Faxed copies will not be accepted.
For general queries on shares, shareholders can call the Telkom shareholder information shareline on 086 22 22 040.
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