MVL - Mvelaphanda Resources Limited - Partial Sale Of Gold Fields Investment
MVL
MVL
MVL - Mvelaphanda Resources Limited - Partial Sale Of Gold Fields Investment
MVELAPHANDA RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1980/001395/06)
Share code: MVL
ISIN: ZAE000050266
("Mvela Resources")
PARTIAL SALE OF GOLD FIELDS INVESTMENT
Shareholders are referred to the announcement on 16 March 2009, regarding the
re-financing of Mvela Resources` R2.024 billion mezzanine debt, raised to
partly fund the acquisition of 50 million shares in Gold Fields ("the
facility"). The facility is available for up to 12 months.
Taking advantage of the recent strength in the Gold Fields share price, 11
million Gold Fields shares have been disposed of under the facility.
Accordingly, approximately half of Mvela Resources` debt obligations have
been expunged. Mvela Resources is significantly in advance of its repayment
obligations under the facility and therefore intends to retire the balance of
the debt, only when further strength in the Gold Fields share price permits.
Johannesburg
30 March 2009
Sponsor
J.P. Morgan Equities Limited
Date: 30/03/2009 17:05:01 Produced by the JSE SENS Department.
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