MVL - Mvela Resources Limited - Termination Of Consultancy Agreement
MVL
MVL
MVL - Mvela Resources Limited - Termination Of Consultancy Agreement
MVELAPHANDA RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1980/001395/06)
Share code: MVL
ISIN: ZAE000050266
("Mvela Resources" or the "company")
TERMINATION OF CONSULTANCY AGREEMENT
Shareholders of Mvela Resources are referred to the Cautionary Announcement
by Mvela Resources dated 4 June 2009, in which shareholders were advised
that Pine Pienaar had resigned as Chief Executive Officer and a director of
the company, but would continue to advise the company regarding the
implementation and execution of its unbundling strategy.
Mr Pienaar has fulfilled the terms of his consultancy agreement with the
company and with the unbundling strategy progressing satisfactorily, wishes
to devote more time to personal business opportunities. The consultancy
agreement between Mvela Resources and Mr Pienaar has accordingly been
terminated.
The board of Mvela Resources wishes to thank Mr Pienaar for his valuable
contribution and wishes him the best in his future endeavours.
Johannesburg
29 September 2009
Sponsor
JP Morgan Equities
Date: 29/09/2009 17:15:01 Produced by the JSE SENS Department.
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