MOR - Morvest - Confirmation of fulfilment of all conditions precedent in terms

MOR - Morvest - Confirmation of fulfilment of all conditions precedent in terms 
of the acquisition of R and S Consulting CC ("R&S")                             
MORVEST BUSINESS GROUP LIMITED                                                  
(Previously Simeka Business Group Limited)                                      
(Incorporated in the Republic of South Africa)                                  
(Registration No. 2003/012583/06)                                               
Share code: MOR    ISIN code: ZAE000152567                                      
("Morvest" or "the Company")                                                    
CONFIRMATION OF FULFILMENT OF ALL CONDITIONS PRECEDENT IN TERMS OF THE          
ACQUISITION OF R AND S CONSULTING CC ("R&S")                                    
Shareholders of Morvest are referred to the announcement released on SENS on 19 
April 2011, wherein they were advised that the last outstanding condition       
precedent for completion of the acquisition of R&S, being the conversion at the 
Commission of R&S into a private company, had not yet been fulfilled.           
Morvest is hereby pleased to advise that this remaining condition precedent has 
now been fulfilled.                                                             
Johannesburg                                                                    
25 May 2011                                                                     
Designated Advisor and Corporate Advisor                                        
Sasfin Capital                                                                  
(A division of Sasfin Bank Limited)                                             
Date: 25/05/2011 17:28:01 Supplied by www.sharenet.co.za                     
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