| Thu 24 Nov 2011, 16:30 | | MVG/MVGP - Mvelaphanda Group Limited - Redemption and Redemption Payment of |
|
MVG MVGP
MVG
MVG/MVGP - Mvelaphanda Group Limited - Redemption and Redemption Payment of
Perpetual Preference Shares
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")
Redemption and Redemption Payment of Perpetual Preference Shares
As part of Mvelaphanda Group Limited`s commitment to its unbundling strategy,
as announced at the annual results presentation of the Company on Thursday, 3
September 2009, the shareholders of Mvela Group perpetual preference shares
("perpetual preference shares") ("perpetual preference shareholders") are
advised of the Company`s intention to redeem in full the perpetual preference
shares ("the redemption"). The scheduled date of the redemption is 31 December
2011 ("the redemption date").
In accordance with Article 70.8 of the Company`s Memorandum of Incorporation,
the Company shall have the option to redeem all or any of the preference shares
held by preference shareholders on any calculation date, being either 30 June
or 31 December after the final conversion date. The final conversion date for
preference shareholders to convert their preference shares was Thursday, 4
November 2010.
In order to give effect to the redemption, Mvela Group has issued to each of
the perpetual preference shareholders a written notice on Thursday, 24 November
2011 notifying them of the Company`s intention to redeem in full the perpetual
preference shares held by such perpetual preference shareholder.
Perpetual preference shareholders will be paid for each perpetual preference
share held, the deemed value of R10.00 plus the preference dividend for the
six-month period ending 31 December 2011 (No. 13) of 36.1 cents and the arrear
preference dividend for the six-month period ended 30 June 2011 (No.12)
calculated up to 31 December 2011 of 38.14 cents, calculated on 80% of the
ruling prime overdraft rate ("the redemption payment") on Tuesday, 3 January
2012.
The timetable envisaged for the redemption and the redemption payment is as
follows:
Date
Notices issued to perpetual preference Thursday, 24 November 2011
shareholders notifying them of the redemption
Announcement of redemption released on SENS Thursday, 24 November 2011
Announcement of redemption published in two Friday, 25 November 2011
publications in the South African press
Last day to trade to be able to participate in Thursday, 22 December 2011
the redemption and the redemption payment
Perpetual preference shares suspended on the Friday, 23 December 2011
JSE trading system
Record date to be recorded in the Company`s Friday, 30 December 2011
register to receive the redemption payment
Redemption date Saturday, 31 December 2011
Perpetual preference shareholders accounts Tuesday, 3 January 2012
held at their CSDP or broker credited with the
redemption payment
Listing of perpetual preference shares Wednesday, 4 January 2012
terminated at commencement of trade on the JSE
trading system
For any queries please contact:
Mr. Ernst Roth
Tel: +27 11 684 2652
Email: info@mvelagroup.co.za
Johannesburg
24 November 2011
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 24/11/2011 16:30:46 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
