MVG/MVGP - Mvelaphanda Group - Batho Bonke consortium transaction

MVG/MVGP - Mvelaphanda Group - Batho Bonke consortium transaction               
MVELAPHANDA GROUP LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
Registration number 1995/004153/06                                              
Ordinary share code:    MVG                                                     
Preference share code:  MVGP                                                    
Ordinary share: ISIN:   ZAE000060737                                            
Preference share: ISIN: ZAE000073540                                            
("Mvela Group" or "the company")                                                
BATHO BONKE CONSORTIUM TRANSACTION                                              
Following the announcement released by Mvela Group on 2 June 2009, shareholders 
are referred to the announcement released by Absa Group Limited ("Absa") on SENS
today with regards to the Batho Bonke Consortium transaction.  Mvela Group has a
44.7% effective interest in Batho Bonke.                                        
Absa`s announcement is set out below -                                          
"Batho Bonke, Absa`s Black Economic Empowerment partner, successfully raises    
third-party funding                                                             
On 2 June 2009 Absa advised that it had provided a back-up funding facility to  
Batho Bonke Capital (Proprietary) Limited (Batho Bonke) in order to facilitate  
the option exercise by Batho Bonke into 36 649 300 Absa ordinary shares.        
Shareholders are advised that Batho Bonke has successfully concluded and raised 
third-party funding of R1 685,6 million from a consortium of financial          
institutions, thereby allowing Batho Bonke to finance its purchase of 36,649,300
Absa ordinary shares by replacing the Absa back up facility from 1 September    
2009. All conditions precedent have been fulfilled.                             
The raising of third-party funding will result in Batho Bonke having a          
beneficial shareholding of 5,1% in Absa."                                       
Sandton                                                                         
28 August 2009                                                                  
Sponsor:                                                                        
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 28/08/2009 13:05:14 Supplied by www.sharenet.co.za                     
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