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MVG MVGP
MVG
MVG/MVGP - Mvelaphanda Group Limited - Results of General Meeting Restructuring
of Mvela Group`s Broad-Based Black Economic Empowerment ("Bee") Ownership
Initiative
Mvelaphanda Group Limited
Registration Number: 1995/004153/06
(Incorporated in the Republic of South Africa)
Ordinary share code: MVG
ISIN: ZAE000060737
Preference share code: MVGP
ISIN: ZAE000073540
("Mvela Group")
RESULTS OF GENERAL MEETING RESTRUCTURING OF MVELA GROUP`S BROAD-BASED BLACK
ECONOMIC EMPOWERMENT ("BEE") OWNERSHIP INITIATIVE
Introduction
Holders of ordinary shares, redeemable option-holding shares ("BEE shares") and
convertible perpetual cumulative preference shares in Mvela Group
("Shareholders") are referred to the announcement by Mvela Group released on the
Securities Exchange News Service on Tuesday, 2 November 2010 and the circular to
the Shareholders dated Wednesday, 3 November 2010 regarding the proposed
restructuring of Mvela Group`s BEE ownership initiative in order to compensate
the shareholders who own BEE shares for their inability to participate in
corporate actions undertaken by Mvela Group as well as to enhance and secure
Mvela Group`s BEE credentials ("BEE transaction").
Results of the general meeting of shareholders
The Shareholders are advised that a general meeting of the Shareholders was held
at 11h00 on Thursday, 25 November 2010 to consider the proposed resolutions
necessary to approve and implement the BEE transaction. All of the proposed
resolutions were approved by the requisite majority of the Shareholders.
The special resolutions will be lodged with the Registrar of Companies on
Friday, 26 November 2010, or as soon as possible thereafter. The BEE shares will
be issued once the special resolutions have been registered by the Registrar of
Companies.
Johannesburg
25 November 2010
Reporting accountants
PKF (Jhb) Inc
Legal adviser to Mvela Group
Cliffe Dekker Hofmeyr Inc
Sponsor to Mvela Group
Deutsche Securities (SA) (Proprietary) Limited
Independent professional expert
PKF Corporate Finance
Date: 25/11/2010 17:10:01 Produced by the JSE SENS Department.
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