Mvelaphanda Resources Limited - Change of Director
MVL
MVL
Mvelaphanda Resources Limited - Change of Directors" Holdings
MVELAPHANDA RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1980/001395/06)
Share code: MVL & ISIN: ZAE000050266
("Mvela Resources")
CHANGE OF DIRECTORS" HOLDINGS
Mvelaphanda Holdings (Pty) Limited, has acquired 9 247 527 shares in Mvelaphanda
Resources Limited, as to one third thereof (3 091 509 shares) from each of
(Merafe ea Khumo Bathong (Pty) Limited, Majweng Mining and Energy (Pty) Limited
and Newshelf 669 (Pty) Limited (collectively "the Khumama Consortium") The
consideration totalled R120 million plus the assumption by Mvelaphanda Holdings
(Pty) Limited of the Khumama Consortium"s obligations to Mvelaphanda Resources
Limited.
Mr P Ncholo and Mr R Ramaite, who are non executive directors of Mvelaphanda
Resources Limited, have indirect, beneficial interests in Merafe and Newshelf,
respectively. Ms N Mtshotshisa, a non executive director of Mvelaphanda
Resources Limited has a non beneficial interest in Majweng.
Messrs TMG Sexwale, M Xayiya and M J Willcox, who are non executive directors of
Mvelaphanda Resources Limited have an indirect beneficial interest in this
transaction through three of the nine Trusts which own and control Mvelaphanda
Holdings (Pty) Limited.
This transaction was effected prior to the closed period of Mvelaphanda
Resources Limited but was subject to numerous conditions precedent. These were
only fulfilled on 18 July 2006, on the conclusion of the purchase by Mvelaphanda
Holdings (Pty) Limited of 38 147 209 shares in Mvelaphanda resources Limited
from Mvelaphanda Group Limited. This transaction was announced on 18 July 2006
and is subject to the approval by shareholders of Mvelaphanda Group Limited in
general meeting.
Johannesburg
21 July 2006
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 21/07/2006 04:44:10 PM Produced by the JSE SENS Department
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