MVL - Mvela Resources - Dealing in securities by an associate company of a
MVL
MVL
MVL - Mvela Resources - Dealing in securities by an associate company of a
director
Mvelaphanda Resources Limited
Incorporated in the Republic of South Africa)
(Registration number: 1980/001395/06)
Share Code: MVL
ISIN: ZAE000050266
("Mvela Resources" "the Group")
DEALING IN SECURITIES BY AN ASSOCIATE COMPANY OF A DIRECTOR
On the 9th of April, Newshelf 947, a subsidiary company of Afripalm Resources
implemented a zero cost collar over 3 million of its Mvela Resources shares. Mr
P. L. Zim, the Chairman of Mvela Resources, has a 20% direct shareholding in
Newshelf 947. The purpose of the collar is to hedge a facility against which
Afripalm has raised working capital and will redeem liabilities.
In accordance with rules 3.63 - 3.74 of the Listing Requirements of the JSE
Limited Mvela Resources hereby discloses the details of the zero-cost collar:
Date of transactions: 9 April 2010
Bought Put at Strike Price of: R45.53 per share
Sold Call at Strike Price of: R45.97 per share
Number of Shares Hedged: 3 000 000
Expiry: 29 March 2011
Class of Security: Ordinary Shares of 0.02 cents each
Nature of transaction: Zero cost collar with commercial bank
Nature of Interest: Beneficial
Prior clearance to enter into the transaction was obtained in accordance with
Mvela Resources` policy with regard to Directors` dealings as well as the JSE
Limited listing requirements.
Johannesburg
12 April 2010
Sponsor
J.P. Morgan Equities Limited
Date: 12/04/2010 15:04:04 Produced by the JSE SENS Department.
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