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MVG - Mvelaphanda Group Limited - Disposal of remaining interest in Mvelaserve Limited Mvelaphanda Group Limited (Incorporated in the Republic of South Africa) Registration number: 1995/004153/06 Ordinary share code: MVG Ordinary share ISIN: ZAE000060737 ("Mvela Group" or "the Company") DISPOSAL OF REMAINING INTEREST IN MVELASERVE LIMITED ("Mvelaserve") 1. THE TRANSACTION Shareholders of Mvela Group are advised that the Company has disposed of its remaining interest in Mvelaserve, consisting of 8 960 060 ordinary shares in Mvelaserve Limited ("the sale shares") on the market during the period 3 February 2012 to 22 February 2012 ("the Disposal") for a total cash consideration of R93 705 357. 2. BUSINESS CARRIED ON BY MVELASERVE LIMITED Mvelaserve is a leading provider of outsourced business support services in South Africa. 3. RATIONALE The disposal is part of Mvela Group`s value unlocking strategy in order to realise value for its shareholders. 4. APPLICATION OF PROCEEDS The sale proceeds will be utilised in the most appropriate manner as determined by the board. 5. CONSIDERATION RECEIVED The total cash consideration received in respect of the Disposal was R93 705 357. 6. JSE CATEGORISATION In terms of the JSE Listings Requirements, the disposals have been aggregated and therefore the Disposal a category 2 disposal. 7. FINANCIAL EFFECTS The unaudited pro forma financial effects of the Disposal as set out below, have been prepared to assist Mvela Group shareholders in assessing the impact of the Disposal on the Company`s historical earnings per share, headline earnings per ordinary share, net asset value per ordinary share and net tangible asset value per ordinary share. Unaudited Pro Forma Change (%) before the after the Disposal Disposal
(Cents per (Cents per share) share) Basic earnings per 16.7 17.3 3.6% share Basic headline 16.7 17.3 3.6% earnings per share Net asset value per 423.9 425.0 0.3% share Net tangible asset 423.9 425.0 0.3% value per share Notes and assumptions: 1. The basic earnings per share and basic headline earnings per share figures in the "Pro Forma after the disposal" column have been calculated on the basis that the disposal was effected on 1 July 2011. 2. The net asset value per share and the tangible net asset value per share figures in the "Pro Forma after the disposal" column have been calculated on the basis that the disposal was effected on 31 December 2011. 3. Interest on the purchase consideration received has been calculated based on the ruling prime interest rate from time to time. The taxation rate applicable is assumed to be 28%. 4. The basic earnings per share and basic headline earnings per share figures are calculated based on weighted average number of shares in issue of 529 426 000 shares as at 31 December 2011. 5. The net asset value per share and net tangible asset value per share have been calculated based on 529 708 365 shares in issue as at 31 December 2011. 29 February 2012 Johannesburg Sponsor: PSG Capital Date: 29/02/2012 16:09:02 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.
