Mvela Group -- net asset value statement

Mvela Group's monthly net asset value ("NAV") statement as at 31 May 2012 revealed the following information:
*NAV (millions) decreased to R2 billion (April 2012: R2.1 billion).
*NAV per share fell to 3.93c (4.12cps)

Portfolio summary
Mvela Group's NAV of R2 billion as at 31 May 2012 comprised the following investments:
*Absa Group Ltd. ("Absa") (Batho Bonke) -- R1.3 billion
*Avusa Ltd. -- R516.5 million
*Group Five Ltd -- R40.9 million
*Net cash/(debt) of R210.9 million

Portfolio Performance
The intrinsic NAV per share decreased mainly due to the decrease in the share price of Absa. The investment portfolio continues to perform in line with expectations.

2012-06-06 09:36:09