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MVG/MVGP - Mvelaphanda Group Limited - Results of General Meeting Restructuring of Mvela Group`s Broad-Based Black Economic Empowerment ("Bee") Ownership Initiative Mvelaphanda Group Limited Registration Number: 1995/004153/06 (Incorporated in the Republic of South Africa) Ordinary share code: MVG ISIN: ZAE000060737 Preference share code: MVGP ISIN: ZAE000073540 ("Mvela Group") RESULTS OF GENERAL MEETING RESTRUCTURING OF MVELA GROUP`S BROAD-BASED BLACK ECONOMIC EMPOWERMENT ("BEE") OWNERSHIP INITIATIVE Introduction Holders of ordinary shares, redeemable option-holding shares ("BEE shares") and convertible perpetual cumulative preference shares in Mvela Group ("Shareholders") are referred to the announcement by Mvela Group released on the Securities Exchange News Service on Tuesday, 2 November 2010 and the circular to the Shareholders dated Wednesday, 3 November 2010 regarding the proposed restructuring of Mvela Group`s BEE ownership initiative in order to compensate the shareholders who own BEE shares for their inability to participate in corporate actions undertaken by Mvela Group as well as to enhance and secure Mvela Group`s BEE credentials ("BEE transaction"). Results of the general meeting of shareholders The Shareholders are advised that a general meeting of the Shareholders was held at 11h00 on Thursday, 25 November 2010 to consider the proposed resolutions necessary to approve and implement the BEE transaction. All of the proposed resolutions were approved by the requisite majority of the Shareholders. The special resolutions will be lodged with the Registrar of Companies on Friday, 26 November 2010, or as soon as possible thereafter. The BEE shares will be issued once the special resolutions have been registered by the Registrar of Companies. Johannesburg 25 November 2010 Reporting accountants PKF (Jhb) Inc Legal adviser to Mvela Group Cliffe Dekker Hofmeyr Inc Sponsor to Mvela Group Deutsche Securities (SA) (Proprietary) Limited Independent professional expert PKF Corporate Finance Date: 25/11/2010 17:10:01 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.
