| Fri 18 Mar 2011, 17:40 | | MVG - Mvelaphanda Group Limited - Minor change in the intrinsic net asset value |
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MVG MVGP
MVG
MVG - Mvelaphanda Group Limited - Minor change in the intrinsic net asset value
("iNAV") of Mvela Group as at 31 December 2010
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", "the Company" or "the Group")
Minor change in the intrinsic net asset value ("iNAV") of Mvela Group as at 31
December 2010
Shareholders are informed that Mvela Group`s total iNAV as at 31 December 2010
is R3.84 per share and not R3.63 as reported in the Company`s interim results
announcement on 17 March 2011. The change is in regards to the ABSA iNAV which
is R1099m.
The updated intrinsic net asset value per ordinary share net of capital gains
tax and debt is set out in the table below:
31 December 2010 30 June 2010
Intrinsic
gross
asset Intrinsi
c
value net Per Intrinsi Per
c
(after asset share net share
asset
CGT) Debt value (1), value (2), (3)
(3)
Rm Rm Rm R Rm R
Absa Group 1099 - 1099 2,08 913 1,96
Life 451 - 451 0,85 2 542 5,46
Healthcare
Avusa 593 (373) 220 0,42 (345) (0,74)
Group Five 129 - 129 0,24 174 0,37
Mvelaserve 109 - 109 0,21 1 723 3,70
Vox Telecom 62 (262) (200) (0,38) (215) (0,46)
Other 25 - 25 0,05 25 0,05
investments
Net cash 250 (53) 197 0,37 476 1,02
Total 2 718 (688) 2 030 3,84 5 293 11,36
1. Based on total number of shares in issue on 31 December 2010 net of
treasury shares.
2. Based on the fully diluted net number of 465 million ordinary shares, on
the assumption that all the preference shares are converted into ordinary
shares. (31 December 2009: 465 million ordinary shares).
3. BEE shares issued in June 2007 and December 2010 have not been taken into
account in calculating the intrinsic net asset value per ordinary share as
the minimum option strike price of R9,18 is greater than the current Mvela
Group ordinary share price.
4. The intrinsic net asset value is unaudited and unreviewed.
18 March 2011
Johannesburg
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 18/03/2011 17:40:08 Produced by the JSE SENS Department.
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