MMH - Miranda Mineral Holdings Limited - Claw Back Offer and Rights Offer

MMH - Miranda Mineral Holdings Limited - Claw Back Offer and Rights Offer       
cancelled in present form                                                       
Miranda Mineral Holdings Limited                                                
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/001940/06)                                            
Share code: MMH      ISIN: ZAE000074019                                         
(LA code: MMHN      LA ISIN: ZAE000152633                                       
("Miranda" or "the Company")                                                    
Claw Back Offer and Rights Offer cancelled in present form                      
1.   Cancellation of the Claw Back Offer and Rights Offer ("the Offers") in     
    terms of presently published timetable                                      
Shareholders are referred to the announcements dated 7 April 2011 and 19    
    April 2011, and are advised that:                                           
    * At the Annual General Meeting ("AGM") of the Company held on 7 April      
    2011, a majority of shareholders voted against the resolution to place      
the authorised but unissued shares of the Company under the control of      
    the directors in terms of sections 221 and 222 of the Companies Act, No     
    61 of 1973, as amended ("the Resolution").                                  
    * As a consequence of the Resolution not being passed by shareholders,      
Miranda has had to cancel the current Offers in terms of the timetable      
    as presently published, as the Offers are conditional.                      
    * The Company is remedying the situation by giving notice to                
    shareholders of an Extraordinary General Meeting (see paragraphs 2 and 3    
underneath).                                                                
    * Miranda has requested the JSE to reverse the trades in the Letters of     
    Allocation which occurred from the commencement of trade on 15 April        
    2011 up until the halt in trade on 19 April 2011, which request has been    
approved by the JSE and will be implemented.                                
2.   Notice of Extraordinary General Meeting ("EGM")                            
    Shareholders are also referred to the notice of EGM, posted yesterday:      
    * The EGM will take place on Monday, 9 May 2011 at 10:00 at The Green       
Office Park, Ground Floor, Pecanwood Building,Charles de Gaulle             
    Crescent, Highveld, Centurion.                                              
    * Shareholders will be asked to consider the resolution pertaining to       
    the placing of the authorised but unissued shares in the capital of the     
Company under the control of the directors of the Company, and that the     
    directors be authorised, subject to Sections 221 and 222 of the             
    Companies Act, No 61 of 1973, as amended, to allot and/ or issue shares     
    to such person or persons on such terms and conditions as they may          
determine ("the New Resolution").                                           
    * A majority of 50% plus one vote of shareholders represented and voting    
    at the EGM is required to pass the New Resolution.                          
3.   Irrevocable Undertakings                                                   
* Miranda has obtained irrevocable undertakings to vote in favour of the    
    New Resolution from shareholders representing more than 58% of the          
    issued share capital of the Company.                                        
4.   Launch of the Offers                                                       
Shareholders are advised that as soon as all the relevant approvals have    
    been obtained, Miranda will commence with the process to re-launch the      
    Offers. A new timetable will be announced as soon as possible.              
21 April 2011                                                                   
Centurion                                                                       
Sponsor                                                                         
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
Corporate Advisor                                                               
Touchstone Capital (Pty) Ltd                                                    
Date: 21/04/2011 09:58:40 Supplied by www.sharenet.co.za                     
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