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MVG - Mvela Group - Mvela Group Net Asset Value ("NAV") Update Mvelaphanda Group Limited (Incorporated in the Republic of South Africa) Registration number: 1995/004153/06 Ordinary share code: MVG SJ Ordinary share ISIN: ZAE000060737 ("Mvela Group" or "the Company") MVELA GROUP NET ASSET VALUE ("NAV") UPDATE INTRINSIC NAV AS AT 31 MAY 2012 ZAR ZAR 31-May- 30-Apr- 12 12
NAV (millions) 2,042 2,142 Shares in issue 520 520 (millions) NAV per share 3.93 4.12 Ordinary share price 3.33 3.45 Ordinary share price 15.3% 16.3% discount to NAV
Notes 1 All information is unaudited. 2 The intrinsic NAV provides a measure of the underlying value of the Group`s assets and does not indicate when the investments will be realised, nor does it guarantee the value at which the investments will be realised. 3 For the purposes of determining the intrinsic values, listed investments on recognised stock exchanges are valued using quoted bid prices and unlisted investments are shown at directors` valuation. 4 Based on the net number of shares in issue on 31 May 2012. 5 BEE shares issued in June 2007 and December 2010 have not been taken into account in calculating the intrinsic NAV per share as the minimum option strike price of R9.18 is greater than the current Mvela Group ordinary share price. Portfolio Summary Mvela Group`s NAV at 31 May 2012 comprised the following investments: Investment ZAR Millions
ABSA Group Limited (Batho 1,273.5 Bonke) Avusa Limited 516.5 Group Five Limited 40.9 1,831.0 Net cash / (debt) 210.9 2,041.9 Portfolio Performance The intrinsic NAV per share decreased mainly due to the decrease in the share price of ABSA Group Limited. The investment portfolio continues to perform in line with expectations. 6 June 2012 Johannesburg Sponsor: PSG Capital Date: 06/06/2012 08:59:01 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.
