Makalani Holdings Limited - Makalani to provide fu
Makalani Holdings Limited - Makalani to provide funding for the Metropolitan BEE
transaction and to Mvela Group
Makalani Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2005/000726/06)
Share code: MKL
ISIN: ZAE000066700
("Makalani")
Makalani to provide funding for the Metropolitan BEE transaction and to Mvela
Group
1.Introduction
Unitholders are notified that Makalani has subscribed alongside other financiers
for R59 million of senior preference shares to fund the second phase of
Metropolitan Holdings Limited"s ("Metropolitan") Black Economic Empowerment
("BEE") transaction.
Makalani has also recently subscribed for R25 million of preferences shares
issued by Mvelaphanda Group Limited ("Mvela Group").
2. The Metropolitan investment
Makalani has, effective 5 December 2005, subscribed alongside other financiers
for R59 million of variable rate cumulative redeemable preference shares to
enable Kagiso Trust Investments (Proprietary) Limited and a trust representing
the members of Metropolitan management to acquire shares in Metropolitan in
terms of the second phase of Metropolitan"s BEE transaction.
Metropolitan, listed on the JSE Limited ("JSE"), provides need-specific
financial services in the middle to lower income market. The Metropolitan group
comprises four independent operating businesses, each with clearly defined areas
of focus, performance and profit objectives: Retail, Corporate, Health and
International.
3. The Mvela Group investment
Makalani subscribed on 4 November 2005 for R25 million of convertible,
perpetual, cumulative preference shares issued by Mvela Group.
Mvela Group, listed on the JSE, is a 53% black owned and managed diversified
company, which has interests in a range of companies in the mining and
resources, financial services, property, healthcare and general industrial
sectors.
Sandton
14 December 2005
Merchant Bank and sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Date: 14/12/2005 09:57:56 AM Produced by the JSE SENS Department
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