Our group structure

5.7%

BBBEE shareholders

JSE listed: MCG

100%⁽⁶⁾

Single class of shares⁽¹⁾

PUBLIC
SHAREHOLDERS

25%⁽²⁾

75%⁽²⁾

100%⁽³⁾

70%⁽²⁾

Video entertainment – linear, streaming and aggregation

Major subsidiaries:

MultiChoice SA Holdings
MultiChoice SA
MultiChoic
MSS⁽⁴⁾
Electronic Media Network
SuperSport Int. Holdings
DStv Media Sales
NMS Insurance

Major subsidiaries:

MAH B.V.⁽⁴⁾
MultiChoice Nigeria
MultiChoice Angola
MultiChoice Uganda
MultiChoice Zambia
MultiChoice Kenya
MultiChoice Tanzania

Major subsidiaries:

Showmax Africa
Showmax South Africa
M-SAT

Broadcasting

Advertising

Content

Streaming

100%

Digital and cybersecurity

Major subsidiaries:

Irdeto B.V
Irdeto SA
Denuvo

Investees:

Questar
Bidstack

49.2%⁽⁵⁾

Sports betting

Operating brands:

BetKing
SuperSportBet
SuperPicks (joint)

Fin-tech

Major subsidiaries:

Moment Holdings (26%)⁽⁵⁾

Scalable consumer tech

Investees include:

SuperSport Schools
SA20
Trust Machines
AURA
Namola

⁽¹⁾	Foreign shareholder voting rights are capped at 20% by MCG’s MOI in order to comply with the broadcasting licence requirements in South Africa under the Electronic Communications Act, 36 of 2005.
⁽²⁾	MCG’s combined direct and indirect interest in MCSA is 76.8% (a 75.0% direct stake, a 1.4% indirect stake via PN, and a 0.4% indirect stake via the Enterprise Development Trust).
⁽³⁾	An approximation of the blended minority economic interest in our Rest of Africa operations would be ~85%.
⁽⁴⁾	MAH B.V. = MultiChoice Africa Holdings; MSS = MultiChoice Support Services.
⁽⁵⁾	KingMakers: 49.23% voting interest is fully diluted for KingMakers ESOP but represents a 51.23% economic interest (see annual financial statements); Moment: 26% interest is fully diluted for the Moment ESOP.
⁽⁶⁾	3.4% held through the MultiChoice Group Restricted Share Unit Trust and MultiChoice Group Treasury Services (Pty) Ltd. See the shareholder analysis for more detailed information.