| Tue 29 Mar 2011, 12:42 | | MVL / NHM - Mvelaphanda Resources Limited / Northa |
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MVL / NHM - Mvelaphanda Resources Limited / Northa 29 Mar 2011
MVL NHM
MVL
MVL / NHM - Mvelaphanda Resources Limited / Northam Platinum Limited -
Announcement regarding the proposed distribution
Mvelaphanda Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1980/001395/06)
Share Code: MVL
ISIN: ZAE000050266
("Mvela Resources")
Northam Platinum Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1977/003282/06)
Share Code: NHM
ISIN: ZAE000030912
("Northam")
ANNOUNCEMENT REGARDING THE PROPOSED DISTRIBUTION OF 181 980 981 NORTHAM ORDINARY
SHARES TO MVELA RESOURCES ORDINARY SHAREHOLDERS ("Northam distribution"), THE
PROPOSED SPECIFIC REPURCHASE OF 35 000 000 MVELA RESOURCES `A` ORDINARY SHARES
("Afripalm repurchase") AND THE PROPOSED ACQUISITION BY NORTHAM OF THE ENTIRE
ISSUED ORDINARY SHARE CAPITAL OF MVELA RESOURCES AFTER THE NORTHAM DISTRIBUTION
AND AFRIPALM REPURCHASE ("scheme of arrangement")
SANCTIONING OF THE SCHEME OF ARRANGEMENT AND COMPETITION APPROVAL
Mvela Resources and Northam are pleased to announce that the South Gauteng High
Court, Johannesburg ("the Court") sanctioned the scheme of arrangement at a
hearing earlier today, 29 March 2011. A certified copy of the order of the Court
sanctioning the scheme of arrangement will shortly be lodged, for registration,
with the Registrar of Companies in terms of the Companies Act No. 61 of 1973, as
amended.
The Competition Tribunal has unconditionally approved the implementation of the
scheme of arrangement, in terms of section 16(2)(a) of the Competition Act No.
89 of 1998, as amended.
Save for the registration of:
- the special resolutions to give effect to the Northam distribution and the
Afripalm repurchase; and
- the order of the Court,
all of the conditions precedent to the Northam distribution have been fulfilled.
Save for the registrations referred to in the previous paragraph and the
implementation of the Northam distribution, all of the conditions precedent to
the scheme of arrangement have been fulfilled.
A further announcement regarding:
- the fulfillment of the outstanding conditions precedent for the Northam
distribution and the scheme of arrangement; and
- the revised salient dates for the implementation of the Northam
distribution and the scheme of arrangement,
will be published in due course.
29 March 2011
Johannesburg
Financial adviser and sponsor to Mvela Resources
J.P. Morgan
Financial adviser to Northam
Deutsche Bank
Sponsor to Northam
One Capital
Attorneys to Mvela Resources
Bowman Gilfillan Inc.
Attorneys to Northam
Werksmans
Date: 29/03/2011 12:32:01 Produced by the JSE SENS Department.
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