| Mon 12 Jul 2010, 17:15 | | MVG/MVGP - Mvelaphanda Group Limited - Announcement regarding the exercise of |
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MVG MVGP
MVG
MVG/MVGP - Mvelaphanda Group Limited - Announcement regarding the exercise of
the Life Healthcare Overallotment option
MVELAPHANDA GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1995/004153/06)
Ordinary share code: MVG ISIN: ZAE000060737
Preference share code: MVGP ISIN: ZAE000073540
("Mvela Group" or "the Company")
ANNOUNCEMENT REGARDING THE EXERCISE OF THE LIFE HEALTHCARE OVERALLOTMENT OPTION
Holders of ordinary shares and preference shares of Mvela Group ("Shareholders")
are referred to the announcement released on the Securities Exchange News
Service ("SENS") on Tuesday, 22 June 2010 and in the national press on
Wednesday, 23 June 2010. It was announced therein that pursuant to the listing
of Life Healthcare Group Holdings Limited ("Life Healthcare") on the exchange
operated by the JSE Limited (the "Life Healthcare Listing"), Mvela Group through
its wholly owned subsidiary Mvelaphanda Strategic Investments (Proprietary)
Limited ("MSI"), would participate in the 30 day overallotment option (the "Life
Healthcare Overallotment Option") which MSI, together with other shareholders of
Life Healthcare, granted the joint-global coordinators and joint bookrunners of
the Life Healthcare Listing.
Further to the announcement released on SENS today by Life Healthcare regarding
the exercise, in part, of the Life Healthcare Overallotment Option, Shareholders
are advised that Mvela Group (through MSI) has disposed of 9,920,338 ordinary
shares in Life Healthcare thereunder, for which it will be receiving total gross
proceeds of R133,924,563.
Following the abovementioned exercise, in part, of the Life Healthcare
Overallotment Option, Mvela Group through MSI holds an effective 3.30% interest
in Life Healthcare. In addition, prior to Health Strategic Investments Limited
("Health") acquiring Newshelf 778 (Proprietary) Limited and the subsequent
unbundling of Health, as set out in the circular to Shareholders dated Monday,
28 June 2010, Mvela Group holds an effective 14.24% interest in Life Healthcare
through Health.
Johannesburg
12 July 2010
Merchant bank, structuring adviser and transaction sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Reporting Accountants
PKF (Jhb) Inc.
Attorneys
Bowman Gilfillan Inc.
Advisers to Mvela Group
Afropulse Group (Proprietary) Limited
Financial PR adviser
College Hill
Date: 12/07/2010 17:15:03 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
