Sharenet Sites 
Sharenet Sites
MVG - Mvelaphanda Group Limited - Share buy back announcement Mvelaphanda Group Limited (Incorporated in the Republic of South Africa) (Registration number 1995/004153/06) Ordinary share code: MVG & ISIN: ZAE000060737 Preference share code: MVGP & ISIN: ZAE000073540 ("Mvela Group" or "the company") Share buy back announcement 1. Repurchase Shareholders are advised that a wholly-owned subsidiary of Mvela Group has now repurchased a further 3.1% of its own shares on the open market of the JSE Limited ("JSE"), in accordance with the general authority granted by Mvela Group`s shareholders at the annual general meeting held on 27 January 2007 ("the share repurchase"). The share repurchase was conducted from 5 September 2007 to 25 October 2007 and from 4 March 2008 to 5 March 2008. 2. Details of the share repurchase Details of the share repurchase are set out below: * Number of ordinary shares repurchased 13 528 811 * Percentage of the company`s issued 3.1% ordinary shares on the date of the granting of the general authority * Total value of ordinary shares R139 298 851 repurchased * Highest price paid per ordinary share 1 090 repurchased (cents) * Lowest price paid per ordinary share 840 repurchased (cents) * Average price paid per ordinary share 1 030 repurchased (cents) * Number of ordinary shares which may 61 662 681 still be repurchased in terms of the general authority * Percentage of Mvela Group`s issued 13.9% ordinary shares which may still be repurchased in terms of the general authority. 3. Source of funds The share repurchase was implemented using existing cash resources. 4. Directors` opinion The directors of Mvela Group have considered the effects of the share repurchase and are unanimously of the opinion that: - the company and its subsidiaries will be able to meet their debt obligations in the ordinary course of business for a period of 12 months after the date of this announcement; - the assets of the company and its subsidiaries, fairly valued in accordance with the accounting policies used by the company in its financial statements for the year ended 30 June 2007, exceed the liabilities of the company and its subsidiaries; - the issued capital and reserves of the company and its subsidiaries are adequate for the purposes of the business of the company and its subsidiaries for a period of 12 months after the date of this announcement; and - the working capital available to the company and its subsidiaries is sufficient for the company and its subsidiaries` requirements for a period of 12 months after the date of this announcement. 5. Financial effects of the share repurchase The table below sets out the pro forma financial effects of the share repurchase on Mvela Group`s unaudited earnings per ordinary share, headline earnings per ordinary share, fully diluted earnings per ordinary share and fully diluted headline earnings per ordinary share for the six months ended 31 December 2007, as well as Mvela Group`s net asset value per ordinary share and net tangible asset value per ordinary share at 31 December 2007. This pro forma information has been prepared for illustrative purposes only and, because of its nature, may not give a true reflection of the actual financial effects on Mvela Group. The directors are responsible for the preparation of the pro forma financial information. Unaudited
six months Pro forma ended after the 31 December share % 2007 (1) Repurchase (2) Change (3)
Earnings per ordinary (95.2) (99.7) 4.7% share (cents) Headline earnings per (95.2) (99.7) 4.7% ordinary share (cents) Fully diluted earnings per (53.2) (55.4) 4.1% ordinary share (cents) Fully diluted headline (53.2) (55.4) 4.1% earnings per ordinary share (cents) Net asset value per 844.0 843.0 (0.1%) ordinary share (cents) Net tangible asset value 699.0 697.8 (0.2%) per ordinary share (cents) Notes: 1. The "Unaudited six months ended 31 December 2007" column of the table is Mvela Group`s unaudited results for the six months ended 31 December 2007, which were published in the press on 28 February 2008. 2. The "Pro forma after the share repurchase" column of the table is calculated assuming that the ordinary shares had been repurchased on 1 July 2007 with the funds in hand on which there would have been a loss of interest received, calculated at an after-tax of 8,0% per annum. 3. The percentage change columns are calculated with reference to the "Unaudited six months ended 31 December 2007" column. 6. JSE listing The ordinary shares repurchased will not be cancelled but will be retained by a wholly-owned subsidiary of Mvela Group. Accordingly, the ordinary shares will continue to be listed on the JSE. Sandton 7 March 2008 Sponsor Deutsche Securities (SA) (Proprietary) Limited Date: 07/03/2008 11:59:36 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
