MVG / MVGP- Mvelaphanda Group Limited - Results of the Annual General Meeting
MVG MVGP
MVG
MVG / MVGP- Mvelaphanda Group Limited - Results of the Annual General Meeting
Mvelaphanda Group Limited
(Incorporated in the Republic of South Africa)
Registration number 1995/004153/06
Ordinary share code: MVG
Preference share code: MVGP
Ordinary share ISIN: ZAE000060737
Preference share ISIN: ZAE000073540
("Mvela Group" or "the Company")
Results of the Annual General Meeting
At the 15th annual general meeting of Mvela Group shareholders held at 11:00 on
Tuesday 26 October 2010, all the resolutions proposed thereat have been passed
with the requisite majority, other than two special resolutions relating to the
authority for Mvela Group or its subsidiaries to repurchase Mvela Group ordinary
shares and Mvela Group preference shares.
The BEE shareholders who voted against the special resolutions hold 124 425 156
shares out of 492 906 111 shares represented at the meeting, equating to 25,24%.
The BEE shareholders have indicated that they will support the special
resolutions relating to the repurchase by Mvela Group or its subsidiaries of
Mvela Group ordinary shares and Mvela Group preference shares after the
unbundling of Mvelaserve Limited ("Mvelaserve"). This is to preclude Mvela Group
from acquiring additional Mvelaserve shares before the unbundling. The Company
will therefore re-submit the special resolutions to be included in the
Mvelaserve unbundling circular which is to be circulated to Mvela Group
shareholders in due course.
Johannesburg
26 October 2010
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 26/10/2010 16:17:01 Produced by the JSE SENS Department.
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