MVL / NHM - Mvela Resources / Northam - Transaction Update And Further
MVL NHM
MVL NHM
MVL / NHM - Mvela Resources / Northam - Transaction Update And Further
Cautionary Announcement
Mvelaphanda Resources Limited Northam Platinum Limited
(Reg No 1980/001395/06) (Reg No 1977/003282/06)
(Incorporated in the Republic of (Incorporated in the
South Africa) Republic of South Africa)
JSE Share Code : MVL JSE Share Code : NHM
ISIN Code : ZAE000050266 ISIN Code : ZAE000030912
("Mvela Resources") ("Northam")
TRANSACTION UPDATE AND FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders of Mvela Resources and Northam ("the parties") are referred to the
joint announcement published on 2 October 2008 (the "joint announcement")
regarding the proposed acquisition by Impala Platinum Holdings Limited
("Implats"), through a series of inter-conditional transactions, of the entire
issued share capital of Mvela Resources and Northam by Implats (collectively,
"the Proposed Transaction").
The announcement of a firm intention to make an offer by Implats ("the firm
intention") is subject to certain pre-conditions, including, inter alia,
confirmation by the Department of Minerals and Energy ("DME") that the
conversion credits which accrued to Anglo Platinum Limited pursuant to the
transfer of Booysendal to Northam will not be prejudiced by the Proposed
Transaction.
Shareholders of the parties are advised that the DME has reviewed the Proposed
Transaction and confirmed that the implementation of the Proposed Transaction
will not affect the BEE credits which have accrued to Anglo Platinum Limited.
Shareholders of the parties are reminded that the firm intention to make an
offer is subject to certain other pre-conditions, and the implementation of the
Proposed transaction is subject to fulfilment of certain conditions precedent,
as set out in the joint announcement.
Shareholders of Mvela Resources and Northam are advised to continue to exercise
caution when dealing in their Mvela Resources and Northam shares until a further
announcement is made.
Johannesburg
20 October 2008
Sponsor to Mvela Resources
JPMorgan Equities
Sponsor to Northam
Barnard Jacobs Mellet Corporate Finance
Date: 20/10/2008 14:35:23 Produced by the JSE SENS Department.
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