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MZR - Mazor Group Limited - Introduction of a black economic empowerment ("bee") shareholder Mazor Group Limited (formerly Main Street 590 (Pty) Limited) (Incorporated in the Republic of South Africa) (Registration number 2007/017221/06) Share code: MZR & ISIN: ZAE000109823 ("Mazor" or "the company") INTRODUCTION OF A BLACK ECONOMIC EMPOWERMENT ("BEE") SHAREHOLDER 1. Introduction Mazor is pleased to announce the introduction of Cloudberry Investments 18 (Pty) Limited ("Cloudberry Investments"), a company controlled by Abubaker Varachhia, as a BEE shareholder with 14.7% of the issued share capital of Mazor. 2. The transaction Doba Judith Mazor and Shlomo Mazor, the founding shareholders, ("the vendors") have entered into an agreement effective 22 November 2007 with Cloudberry Investments 18 (Pty) Limited ("Cloudberry Investments") in terms of which Cloudberry Investments will acquire 18 000 000 Mazor ordinary shares for a total consideration of R58 140 000 ("the acquisition consideration") ("the BEE transaction"). As the shares were sold to Cloudberry Investments by the founding shareholders, there will be no dilution to other Mazor shareholders. Save for the right to nominate a director to the board of Mazor, the company has given no representation or warranties to Cloudberry Investments in terms of the BEE transaction. Cloudberry Investments has agreed to a lock-in period of 2 years from the effective date. The sale shares transferred to Cloudberry Investments will be held in trust until the expiry of the lock-in period. 3. Cloudberry Investments 18 (Pty) Limited Cloudberry Investments is a black controlled investment company owned 51% by Abubaker Varachhia and 49% by Trematon Capital Investments Limited. Abubaker Varachhia is the managing director of Letchmiah, Daya & Varachhia (Pty) Limited, one of the largest quantity surveying firms in South Africa. Trematon Capital Investments Limited is an investment company with interests in listed and unlisted companies and property. 4. Board representation Cloudberry Investments will have the right to appoint one director to the Mazor board for as long as it holds not less than 10% of the issued shares of the company. Abubaker Varachhia has been appointed as a non- executive director with effect from 22 November 2007. Johannesburg 22 November 2007 Corporate and Designated Advisor: Bridge Capital Advisors (Pty) Limited Legal adviser: Webber Wentzel Bowens Date: 22/11/2007 16:25:01 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.
