MVL - Mvela Resources - Fulfilment of conditions p
MVL
MVL
MVL - Mvela Resources - Fulfilment of conditions precedent and changes to
the Board
Mvelaphanda Resources Limited
Incorporated in the Republic of South Africa)
(Registration number: 1980/001395/06)
Share Code: MVL & ISIN: ZAE000050266
("Mvela Resources")
FULFILMENT OF CONDITIONS PRECEDENT AND CHANGES TO THE BOARD
Further to the announcement made on 23 February 2007, ordinary shareholders of
Mvela Resources are advised that all the outstanding conditions precedent and
consents in respect of the transaction with Afripalm Resources (Proprietary)
Limited (Afripalm) have been met and the transaction will continue as
anticipated.
Consistent with the terms of the transaction with Afripalm, Mr Lazarus Zim, Mr
Ragavan Moonsammy and Ms Philisiwe Buthelezi will join the board of directors of
Mvela Resources (the "board") with immediate effect. Mr Tokyo Sexwale intends
to step down as Chairman of the board and will be succeeded by Mr Zim.
Johannesburg
10 April 2007
Sponsor: JPMorgan
Date: 10/04/2007 11:14:00 Produced by the JSE SENS Department.
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