MST - Mustek - Disposal by Rectron Holdings Limited of Interest in Corex It

MST - Mustek - Disposal by Rectron Holdings Limited of Interest in Corex It     
Distribution Dynamics (Proprietary) Limited - Small Related Party Transaction   
MUSTEK LIMITED                                                                  
(Incorporated in the Republic of South Africa)                                  
(Registration number 1987/070161/06)                                            
Share Code:   MST                                                               
ISIN Code:    ZAE000012373                                                      
("Mustek" or "the company")                                                     
DISPOSAL BY RECTRON HOLDINGS LIMITED ("RECTRON") OF INTEREST IN COREX IT        
DISTRIBUTION DYNAMICS (PROPRIETARY) LIMITED ("COREX") - SMALL RELATED PARTY     
TRANSACTION                                                                     
1.   roduction                                                                  
Shareholders are referred to the announcement released on SENS on Tuesday, 1    
February 2011 and in the press on Wednesday, 2 February 2011, where they were   
advised that Rectron, a wholly owned subsidiary of Mustek, has entered into a   
Sale of Shares Agreement dated 31 January 2011 in terms of which Rectron        
disposed of its 60% stake in Corex to Chao-Chung (Fred) Lu ("the purchaser") for
a total cash purchase price of R9 790 549, with effect from the effective date, 
being 1 January 2011 ("the transaction").                                       
Shareholders are hereby advised that the Mustek board of directors has appointed
Merchantec Capital as the independent expert ("expert") to provide it with a    
fairness opinion on the transaction. Both the expert and their fairness opinion 
have been approved by the JSE Limited.                                          
2.   Opinions                                                                   
The fairness opinion by the expert indicates that the transaction is fair       
insofar as the shareholders of Mustek are concerned. A copy of the fairness     
opinion is available for inspection at the company`s registered office for 28   
days from the date of this announcement.                                        
The board of directors of Mustek has considered the terms and conditions of the 
transaction and after considering the opinion of the expert, is of the opinion  
that the transaction is fair to all Mustek shareholders.                        
Midrand                                                                         
15 February 2011                                                                
Sponsor                                                                         
Deloitte & Touche Sponsor Services (Pty) Ltd                                    
Independent expert                                                              
Merchantec Capital                                                              
Date: 15/02/2011 10:00:02 Supplied by www.sharenet.co.za                     
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