| Fri 4 May 2012, 9:00 | | MVG - Mvelaphanda Group Limited - Mvela Group net asset value (NAV) update |
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MVG
MVG
MVG - Mvelaphanda Group Limited - Mvela Group net asset value ("NAV") update
Mvelaphanda Group Limited
(Incorporated in the Republic of South Africa)
Registration number: 1995/004153/06
Ordinary share code: MVG
Ordinary share ISIN: ZAE000060737
("Mvela Group" or "the Company")
MVELA GROUP NET ASSET VALUE ("NAV") UPDATE
INTRINSIC NAV AS AT 30 APRIL 2012
ZAR ZAR
30-Apr-12 31-Dec-11
NAV (millions) 2,142 1,943
Shares in issue (millions) 520 529
NAV per share 4.12 3.66
Ordinary share price 3.45 3.50
Ordinary share price discount to NAV 16.3%
4.4%
Notes
1 All information is unaudited.
2 The intrinsic NAV provides a measure of the underlying value of Mvela
Group`s assets and does not indicate when the investments will be realised,
nor does it guarantee the value at which the investments will be realised.
3 For the purposes of determining the intrinsic values, listed investments on
recognised stock exchanges are valued using quoted bid prices and unlisted
investments are shown at directors` valuation.
4 Based on the net number of shares in issue on 30 April 2012.
5 BEE shares issued in June 2007 and December 2010 have not been taken into
account in calculating the intrinsic NAV per share as the minimum option
strike price of R9.18 is greater than the current Mvela Group ordinary
share price.
Portfolio Summary
Mvela Group`s NAV at 30 April 2012 comprised the following investments:
Investment ZAR
Millions
ABSA Group Limited (Batho Bonke) 1,364.4
Avusa Limited 529.5
Group Five Limited 50.7
1,944.6
Net cash / (debt) 198.3
2,142.9
Portfolio Performance
Since 31 December 2011, the Company disposed of its remaining interest in
Mvelaserve Limited, consisting of 8,960,060 ordinary shares for a total cash
consideration of R93,705,357. The Company has disposed of its remaining interest
in Life Healthcare Group Holdings Limited, consisting of 7,749,921 ordinary
shares and 7,000,000 collar ordinary shares for a total cash consideration of
R328,142,141. Mvela Group has bought back 9,000,000 of its ordinary shares for a
total cash consideration of R31,180,313 equating to an average price per share
of R3.46, these shares have subsequently been cancelled.
4 May 2012
Johannesburg
Sponsor: PSG Capital
For further information, please contact:
Mvelaphanda Group Andrew +27(0)11 214 8508
Limited Bonamour
PSG Capital (Pty) David Tosi +27(0) 21 887 9602
Limited
Date: 04/05/2012 09:00:01 Produced by the JSE SENS Department.
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