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MVL/NHM - Mvela Resources/Northam - Proposed distribution ratio

Release Date: 08/02/2011 14:05
Code(s): MVL NHM
Wrap Text

MVL/NHM - Mvela Resources/Northam - Proposed distribution ratio Mvelaphanda Resources Limited (Incorporated in the Republic of South Africa) (Registration number: 1980/001395/06) Share Code: MVL ISIN: ZAE000050266 ("Mvela Resources") Northam Platinum Limited (Incorporated in the Republic of South Africa) (Registration No. 1977/003282/06) Share Code: NHM ISIN: ZAE000030912 ("Northam") JOINT ANNOUNCEMENT REGARDING THE PROPOSED DISTRIBUTION OF 181 980 981 NORTHAM ORDINARY SHARES TO MVELA RESOURCES ORDINARY SHAREHOLDERS, THE PROPOSED SPECIFIC REPURCHASE OF 35 000 000 MVELA RESOURCES `A` ORDINARY SHARES AND THE PROPOSED ACQUISITION BY NORTHAM OF THE ENTIRE ISSUED ORDINARY SHARE CAPITAL OF MVELA RESOURCES AFTER THE DISTRIBUTION AND REPURCHASE PROPOSED DISTRIBUTION RATIO Further to the announcement released on SENS this morning, we wish to advise that the distribution ratio for the proposed distribution of the 181 980 981 Northam ordinary shares is 83.5230 Northam shares to be distributed to participating Mvela Resources ordinary shareholders for every 100 Mvela Resources ordinary shares held on the Northam distribution participation record date. 8 February 2011 Johannesburg Financial adviser and sponsor to Mvela Resources J.P. Morgan Financial adviser to Northam Deutsche Bank Sponsor to Northam One Capital Independent adviser to Mvela Resources and Northam One Capital Legal adviser to Mvela Resources Bowman Gilfillan Legal adviser to Northam Werkmans Independent reporting accountants to Mvela Resources PricewaterhouseCoopers Inc. Independent reporting accountants to Northam Ernst & Young Inc. Date: 08/02/2011 14:05:01 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.

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