07 Mar 2022
Directors resign from VK board
Prosus is extremely concerned about the continued conflict. It is in the world’s interest to find a solution that provides an immediate de-escalation and secures long-term peace and stability in the region and beyond.
Directors resign from VK board
Prosus is extremely concerned about the continued conflict. It is in the world’s interest to find a solution that provides an immediate de-escalation and secures long-term peace and stability in the region and beyond. Our primary concern is the well-being of our employees and we continue to support all of our people in the region.
Over the last week, international sanctions have been imposed on many Russian entities and individuals. These include sanctions on the CEO and indirect shareholders of online platform VK Group, in which Prosus holds a minority stake. As a consequence of these sanctions, Prosus asked its directors on the VK Board to resign their positions.
We expect to write down the full carrying value of the VK asset, of approximately US$700m in the current reporting period.
About Naspers
Established in 1915, Naspers has transformed itself to become a global consumer internet company and one of the largest technology investors in the world. Through Prosus, the group operates and invests globally in markets with long-term growth potential, building leading consumer internet companies that empower people and enrich communities. Prosus has its primary listing on Euronext Amsterdam, and a secondary listing on the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus.
In South Africa, Naspers is one of the foremost investors in the technology sector and is committed to building its internet and ecommerce companies. These include Takealot, Mr D Food, Superbalist, Autotrader, Property24 and PayU, in addition to Media24, South Africa’s leading print and digital media business.
Naspers has a primary listing on the Johannesburg Stock Exchange (NPN.SJ), a secondary listing on the A2X Exchange (NPN.AJ) in South Africa, and has a level 1 American Depository Receipt (ADR) programme which trades on an over-the-counter basis in the United States of America.
For more information, please visit www.naspers.com.
Naspers Labs
In 2019, Naspers Labs, a youth development programme designed to transform and launch South Africa’s unemployed youth into economic activity, was launched. Naspers Labs focuses on digital skills and training, enabling young people to pursue tech careers.
Response to COVID-19
Naspers contributed R1.5 billion of emergency aid to support the South African government’s response to the COVID-19 pandemic. This contribution consisted of R500 million towards the Solidarity Fund and R1 billion worth of PPE sourced and distributed to South Africa’s front-line healthcare workers. In addition, Naspers contributed R6.9 million to the Nelson Mandela Foundation's EachOne FeedOne programme to support families who COVID-19 has impacted with meals for a year.