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MVG
MVG
MVG - Mvela Group - 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 SJ
Ordinary share ISIN: ZAE000060737
("Mvela Group" or "the Company")
MVELA GROUP NET ASSET VALUE ("NAV") UPDATE
INTRINSIC NAV AS AT 31 MAY 2012
ZAR ZAR
31-May- 30-Apr-
12 12
NAV (millions) 2,042 2,142
Shares in issue 520 520
(millions)
NAV per share 3.93 4.12
Ordinary share price 3.33 3.45
Ordinary share price 15.3% 16.3%
discount to NAV
Notes
1 All information is unaudited.
2 The intrinsic NAV provides a measure of the underlying value of the 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 31 May 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 31 May 2012 comprised the following investments:
Investment ZAR
Millions
ABSA Group Limited (Batho 1,273.5
Bonke)
Avusa Limited 516.5
Group Five Limited 40.9
1,831.0
Net cash / (debt) 210.9
2,041.9
Portfolio Performance
The intrinsic NAV per share decreased mainly due to the decrease in the share
price of ABSA Group Limited. The investment portfolio continues to perform in
line with expectations.
6 June 2012
Johannesburg
Sponsor: PSG Capital
Date: 06/06/2012 08:59:01 Produced by the JSE SENS Department.
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