MVG - Mvelaphanda Group Limited - Extension of exclusive facilities management
MVG
MVG
MVG - Mvelaphanda Group Limited - Extension of exclusive facilities management
services agreement with Telkom
MVELAPHANDA GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1995/004153/06
Ordinary share code: MVG
Ordinary share ISIN: ZAE000060737
("Mvela Group")
EXTENSION OF EXCLUSIVE FACILITIES MANAGEMENT SERVICES AGREEMENT WITH TELKOM
Mvela Group is advising shareholders that the Board of Telkom SA Limited
("Telkom") has conditionally proposed to extend the Exclusive Facilities
Management Services Agreement ("the Agreement") between Telkom and Total
Facilities Management Company (Pty) Limited ("TFMC") for a further period of 5
years with effect from 1 April 2011. TFMC is a 100% subsidiary of Mvelaserve
Limited, Mvela Group`s 100% owned services business.
TFMC is currently in discussion with Telkom with the intention of finalising the
Agreement before 31 July 2010. The directors of Mvela Group anticipate that the
successful implementation of the Agreement will have a significant impact on
Mvela Group`s post unbundling intrinsic net asset value of 670 cents per Mvela
Group share contained in the press announcement dated 22 June 2010 regarding the
restructure of Mvela Group and the unbundling of Mvela Group`s interest in
Health Strategic Investments Limited.
Johannesburg
30 June 2010
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 30/06/2010 08:48:04 Produced by the JSE SENS Department.
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