MVG - Mvelaphanda Group Limited - Results of the General Meeting of shareholders

MVG - Mvelaphanda Group Limited - Results of the General Meeting of shareholders
MVELAPHANDA GROUP LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 1995/004153/06)                                            
Ordinary share code: MVG                                                        
Ordinary share ISIN: ZAE000060737                                               
Preference share code: MVGP                                                     
Preference share ISIN: ZAE000073540                                             
("Mvela Group")                                                                 
RESULTS OF THE GENERAL MEETING OF SHAREHOLDERS                                  
At the general meeting of Mvela Group shareholders held on Wednesday 6 June 2007
in relation to the proposed implementation by Mvela Group of a broad-based Black
Economic Empowerment ("BEE") ownership initiative to enhance and secure Mvela   
Group`s BEE shareholding credentials, the resolutions for the creation of 124   
425 055 redeemable option-holding shares ("BEE shares") in the authorised share 
capital of Mvela Group and authorising the directors to issue the BEE shares and
the ordinary shares that may need to be issued pursuant to the exercise of the  
options attached to the BEE shares, were approved by the requisite majority of  
shareholders.                                                                   
The special resolutions will be lodged with the Registrar of Companies on       
Thursday, 7 June 2007, 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                                                                    
06 June 2007                                                                    
Investment Bank and transaction sponsor                                         
Standard Bank                                                                   
Attorneys                                                                       
Bowman Gilfillan                                                                
Sponsor                                                                         
Deutsche Securities                                                             
Auditors and reporting accountants                                              
PKF                                                                             
Independent professional expert                                                 
PKF Corporate Finance                                                           
Transaction advisor                                                             
Afropulse Group                                                                 
Date: 06/06/2007 16:49:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.