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MVELAPHANDA RESOURCES LIMITED -
MVELAPHANDA RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1980/001395/06)
Share code: MVL
ISIN: ZAE000037610
("Mvela Resources" or "the company")
SCHEME OF ARRANGEMENT RESULTS ANNOUNCEMENT
Sanctioning Of Scheme Of Arrangement
Further to the announcement of 24 October 2003, Rand Merchant Bank is authorised
to announce that the:
* scheme of arrangement ("the scheme") proposed by Mvela Resources between
the company and its linked unit holders in their capacity as debenture
holders was sanctioned by the High Court of South Africa (Witwatersrand
Local Division) on Tuesday 4 November 2003; and
* Order of Court sanctioning the scheme ("Order of Court") has been lodged
with the Registrar of Companies for registration.
On registration of the Order of Court by the Registrar of Companies, which is
expected to be on or about Wednesday 5 November 2003, the scheme will become
unconditional.
Reminder Of Remaining Salient Dates
2003
Last day to trade for linked unit holders to
be entitled to receive the scheme consideration on Friday 14
November
Suspension of listing of the linked units on the
JSE Securities Exchange South Africa ("JSE") at
commencement of trading on Monday 17 November
Commencement of trading of the ordinary shares with
a par value of R0,02 each ("consolidated shares")
on the JSE Monday 17
November
Record date on which linked unit holders are to be
recorded in the register in order to be entitled
to receive the scheme consideration ("consideration
record date") at 16:00 on Friday 21
November
Operative date of the scheme at the commencement
of trading on Monday 24 November
Share certificates in respect of consolidated
shares posted to certificated scheme participants
(if documents of title together with the form of
surrender are received on or prior to the consideration
record date) on Monday 24
November
or, failing receipt of documents of title on or before
the consideration record date, within five business days
of receipt thereof by the transfer secretaries.
Dematerialised scheme participants have their safe
custody accounts held at their CSDP/broker updated with
the relevant consolidated shares on Monday 24
November
Termination of listing of the linked units on the JSE
at the commencement of trading on Monday 24 November
No dematerialisation or rematerialisation of linked units may take place after
Friday 14 November 2003.
Johannesburg
4 November 2003
Merchant bank to Mvela Resources:
RMB Corporate Finance
A division of FirstRand Bank Limited
(Registration number 1929/001225/06)
Attorneys to Mvela Resources:
Werksmans Inc.
(Registration number 1990/007215/21)
Sponsor to Mvela Resources:
PricewaterhouseCoopers Corporate Finance (Proprietary) Limited
(Registration number 1970/003711/07)
Date: 04/11/2003 05:54:22 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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