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MVG MVGP
MVG
MVG / MVGP - Mvela Group Trading Statement In Respect Of The Six Months Ended
31 December 2008
MVELAPHANDA GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1995/004153/06
Ordinary share code: MVG
Preference share code: MVGP
Ordinary share: ISIN: ZAE000060737
Preference share: ISIN: ZAE000073540
("Mvela Group" or "the company")
MVELA GROUP TRADING STATEMENT IN RESPECT OF THE SIX MONTHS ENDED 31 DECEMBER
2008
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, a
listed company is required to publish a trading statement as soon as it is
satisfied that a reasonable degree of certainty exists that the financial
results for the period to be reported upon next will differ by at least 20% from
those of the previous corresponding period.
Shareholders are accordingly advised that Mvela Group`s:
- headline earnings per share for the six months ended 31 December 2008 is
expected to be between 95% and 110% higher, compared to the six months
ended 31 December 2007; and
- earnings per share for the six months ended 31 December 2008 is expected
to be between 95% and 110% higher compared to the six months ended 31
December 2007.
- intrinsic net asset value per share is expected to decline between 30%
and 40% compared to the previous corresponding period.
The expected increase in the headline earnings per share and earnings per share
as noted above are due to an upward fair value adjustment of Mvela Group`s
strategic investments for the six months ended 31 December 2008 compared to the
downward fair value adjustment posted in the six months ended 31 December 2007.
Reduced cash levels and a more conservative approach in the valuation of
subsidiaries gave rise in the above decline expected in Mvela Group`s intrinsic
net asset value per share at 31 December 2008.
The financial information contained in this trading statement has not been
reviewed or reported on by Mvela Group`s external auditors.
The company`s results are expected to be released on SENS on or about Thursday,
26 February 2009.
Enquiries
Mvelaphanda Group 011 290 4200
Ernst Roth 011 290 4230
College Hill 011 447 3030
Johannes van Niekerk 082 921 9110
Sandton
19 February 2009
Sponsor:
Deutsche Securities (SA) (Proprietary) Limited
Date: 19/02/2009 17:37:35 Produced by the JSE SENS Department.
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