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MMH - Miranda Mineral Holdings Limited - Update of business rescue application

Release Date: 03/08/2011 07:24
Code(s): MMH
Wrap Text

MMH - Miranda Mineral Holdings Limited - Update of business rescue application in terms of section 131 of the companies act,71 of 2008 and further cautionary announcement 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" or "the Group") UPDATE OF BUSINESS RESCUE APPLICATION IN TERMS OF SECTION 131 OF THE COMPANIES ACT,71 OF 2008 AND FURTHER CAUTIONARY ANNOUNCEMENT Shareholders are referred to the announcement released on 26 July 2011 regarding the business rescue application in terms of section 131 of the Companies Act, 71 of 2008. The application had been set down for hearing on 2 August 2011. Prior to the hearing, Miranda received notification that an application for leave to intervene was launched by new applicants who claim that they are shareholders of Miranda. In light thereof the matter was not ripe for hearing and the parties (being Miranda, Ronald Nel and the new applicants) agreed to the relief set out below. De Vos J accordingly made an order as follows: The applicants in the application dated 26 July 2011 are granted leave to intervene in the application to place Miranda under supervision in terms of section 131 of the Companies Act, 71 of 2008, between Ronald Nel, as applicant, and Miranda, as respondent. The proceedings are adjourned for hearing by, and the parties are granted leave to approach the Judge President for the purpose of constituting a Court, comprised of a Judge of this Honourable Court as assigned by the Judge President to hear the particular matter, as contemplated in the definition of "Court" in section 128(1)(e)(ii)(bb). As a result, the hearing will be held on a date to be determined by the Judge President, on application by the parties. Further Cautionary announcement Accordingly, and further to the cautionary announcement dated 26 July 2011, shareholders are advised to continue to exercise caution when dealing in the company`s securities until further information is provided. 3 August 2011 Sponsor PricewaterhouseCoopers Corporate Finance (Pty) Ltd Date: 03/08/2011 07:24:45 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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