Vodacom has offered to buy out it's more than 86 000 "odd lot" shareholders, at R56,61 per share.

In a statement, the company explains that. following the unbundling by Telkom of its remaining 35% shareholding in Vodacom in May 2009, Vodacom acquired a significant shareholder base, which includes a number of small minority shareholders holding less than 500 Vodacom shares each.
In order to facilitate an inexpensive method for minority shareholders to realise their investment in Vodacom where they receive an offer price at a premium per Vodacom share and do not have to incur transaction costs, the directors are proposing the implementation of an odd-lot offer, as well as a specific offer to repurchase the shares of Vodacom shareholders holding from 100 to 500 shares.
As at 31 January 2010, 59 091 shareholders, being 61,5% of the total number of Vodacom shareholders, held less than 100 shares each, with 27 181 shareholders, being 28,3% of the total number of shareholders, holding between 100 and 500 shares each. This means 89,8% of the total number of Vodacom shareholders held 500 shares or less each. In aggregate these shareholders hold 8 572 500 shares – or 0,58% of the total.
Odd-lot holders are being offered the chance to sell their holdings for a cash consideration. Those not making an election to keep their shares will be considered to have opted for selling.
The shares, will be repurchased by Vodacom or its wholly-owned subsidiary Wheatfields Investments 276, at R56.61 per share.