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MVG/MVGP - Mvela Group CEO to step down 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") MVELA GROUP CEO TO STEP DOWN Mvela Group announced today that Yolanda Cuba is stepping down as CEO and Executive Director of Mvela Group with effect from 31 December 2010. This follows the conclusion of the successful listing and unbundling of Mvelaserve Limited on the securities exchange operated by the JSE Limited on Monday the 29th November 2010 as well as the listing and unbundling of the Company`s interests in Life Healthcare Limited and Health Strategic Investments Limited earlier in the year. Following these transactions, Mvela Group`s remaining interests are now only in listed investments with the substantial share of the Company`s investments having been distributed to Mvela Group`s shareholders. This is in accordance with the strategy of realising and unbundling the Group`s assets and distributing the proceeds to shareholders in the most efficient and orderly manner in order to unlock value for shareholders, announced on 3 September 2009. Yolanda Cuba has been the CEO of Mvela Group since 2007. Mikki Xayiya, Chairman will be acting CEO until a replacement is appointed. Mikki Xayiya, Chairman said: "Yolanda has achieved a considerable amount during her tenure as CEO of Mvelaphanda Group in building value for shareholders of the Company. Yolanda has been instrumental in many of the Group`s investments and spearheaded the efforts to realise value for shareholders in line with the board`s value unlock strategy. She has been exemplary in her leadership. On behalf of the board, I thank her for her huge contribution over the years and wish her well in her future endeavours." 1 December 2010 Johannesburg Sponsor Deutsche Securities (SA) (Proprietary) Limited Date: 01/12/2010 15:00:01 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.
