MMH - Miranda Mineral Holdings Limited - Miranda Mineral Holdings to relaunch

MMH - Miranda Mineral Holdings Limited - Miranda Mineral Holdings to relaunch   
Claw Back and Rights Offers                                                     
Miranda Mineral Holdings Limited                                                
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/001940/06)                                            
Share code: MMH      ISIN: ZAE000074019                                         
("Miranda" or "the Company")                                                    
PRESS RELEASE: Miranda Mineral Holdings to Relaunch Claw Back and Rights Offers 
The Miranda Claw Back and Rights Offers, intended to raise R83,6-million for the
company, is to be re-launched, the company announced today.                     
Miranda CEO, Glen Poff, said the cancellation and re-launching of the offers had
been caused by shareholders not passing a resolution at the Company`s AGM on 7  
April, to place the authorised but unissued shares of the company under the     
control of directors. As a consequence, the company had no legal alternative but
to cancel the offer in its present form and consult with the JSE to request that
trade in the Letters of Allocation that took place from 15 April be reversed.   
Shareholders representing 58% of the company`s issued share capital have        
reaffirmed their faith in Miranda by subsequently signing irrevocable           
undertakings in support of a new resolution to place the unissued shares under  
the control of directors. The new resolution will now be put to shareholders at 
an extraordinary general meeting scheduled for 9 May. Passing the new resolution
requires a simple majority of votes at the meeting.                             
"We are pleased that the matter is being addressed and that the Claw Back and   
Rights Offer process will be going ahead in due course."                        
Poff says that Global PS Mining Investments Company, Miranda`s international    
shareholder, has indicated that it remains committed to the Claw Back and Rights
Offers.                                                                         
Shareholders will be informed of the timing of the re-launch once the necessary 
regulatory approvals had been obtained and a new timetable determined.          
21 April 2011                                                                   
ENDS                                                                            
Sponsor                                                                         
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
Date: 21/04/2011 17:04:01 Supplied by www.sharenet.co.za                     
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