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MVG MVGP
MVG
MVG/MVGP - Mvelaphanda Group Limited - Unbundling Finalisation Announcement
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")
UNBUNDLING FINALISATION ANNOUNCEMENT
1. INTRODUCTION
Holders of ordinary shares ("Mvela Group ordinary shares"), redeemable option-
holding shares and convertible perpetual cumulative preference shares ("Mvela
Group preference shares") in Mvela Group ("Shareholders") are referred to the
announcement by Mvela Group released on the Securities Exchange News Service on
Tuesday, 22 June 2010 and the circular to Shareholders dated Monday, 28 June
2010 (the "Circular") regarding:
- a series of transactions undertaken and/or to be undertaken by Mvela Group,
Brimstone Investment Corporation Limited ("Brimstone") and various entities
controlled by Mvela Group and Brimstone ("Restructuring"); and
- the proposed unbundling by Mvela Group of all of the shares ("Health
shares") held by it in Health Strategic Investments Limited ("Health"),
constituting 53.52% of the issued ordinary share capital of Health, to
holders of Mvela Group ordinary shares (the "Unbundling").
2. CONDITIONS PRECEDENT
Shareholders are advised that all conditions precedent to the Restructuring and
the Unbundling have been fulfilled and the Unbundling will be implemented in
accordance with the timetable published in the Circular.
3. FINAL ENTITLEMENT RATIO
Based on 148 364 143 Health shares held by Mvela Group and 443 495 663 Mvela
Group ordinary shares in issue following the conversion since 22 June 2010 of 20
008 Mvela Group preference shares into 21 609 Mvela Group ordinary shares,
holders of Mvela Group ordinary shares registered as such at the close of
business on Friday, 20 August 2010, will receive 33.45335 Health shares for
every 100 Mvela Group ordinary shares held.
Johannesburg
5 August 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: 05/08/2010 11:17:02 Produced by the JSE SENS Department.
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