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MVL - Mvelaphanda Resources Limited - Proposed distribution of Northam shares to

Release Date: 14/03/2011 11:36
Code(s): MVL
Wrap Text

MVL - Mvelaphanda Resources Limited - Proposed distribution of Northam shares to Mvela Resources Shareholders Mvelaphanda Resources Limited (Incorporated in the Republic of South Africa) (Registration number: 1980/001395/06) Share Code: MVL ISIN: ZAE000050266 ("Mvela Resources") ANNOUNCEMENT REGARDING THE PROPOSED DISTRIBUTION OF 181 980 981 NORTHAM PLATINUM LIMITED ("Northam") ORDINARY SHARES TO MVELA RESOURCES ORDINARY SHAREHOLDERS ("Northam distribution"), THE PROPOSED SPECIFIC REPURCHASE OF 35 000 000 MVELA RESOURCES `A` ORDINARY SHARES ("Afripalm repurchase") AND THE PROPOSED ACQUISITION BY NORTHAM OF THE ENTIRE ISSUED ORDINARY SHARE CAPITAL OF MVELA RESOURCES AFTER THE NORTHAM DISTRIBUTION AND AFRIPALM REPURCHASE ("scheme") Shareholders are advised that: - at the general meeting held today, Mvela Resources shareholders approved the necessary resolutions to give effect to the Northam distribution and the Afripalm repurchase; and - at the scheme meeting held today, the scheme was approved by the requisite majority of votes. A further announcement will be made when all conditions precedent have been fulfilled. 14 March 2011 Johannesburg Financial adviser and sponsor to Mvela Resources J.P. Morgan Attorneys to Mvela Resources Bowman Gilfillan Independent reporting accountants PricewaterhouseCoopers Inc. Date: 14/03/2011 11:36:00 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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