Correction of financial effects Muvoni Technology Limited (Formerly Ideco Group Limited) (Incorporated in the Republic of South Africa) (Registration number: 2001/023463/06) Share code: MTG ISIN code: ZAE000167268 ("Muvoni" or "the Company") CORRECTION OF PRO FORMA FINANCIAL EFFECTS OF THE PURCHASE OF THE INTELLECTUAL PROPERTY DEVELOPED BY ZNG TECHNOLOGIES AG(“THE TRANSACTION”) Shareholders are referred to the pro forma financial effects included in the announcement released by the Company on 12 November 2012 ("the Announcement"), and are advised that the effect of the Transaction on the headline earnings per share were incorrectly disclosed in the Announcement. FINANCIAL EFFECTS Shareholders are referred to the correction of the effect of the Transaction on the headline earnings per share in the revised table below. Shareholders are hereby advised that the pro forma financial effects of the Transaction are set out below. The pro forma financial effects of the Transaction are presented for illustrative purposes only and because of their nature may not give a fair reflection of the Company`s financial position nor of the effect on future earnings after the Transaction. Set out below are the unaudited pro forma financial effects of the Transaction, based on the reviewed group results for the six months ended 29 February 2012. The directors of Muvoni are responsible for the preparation of the unaudited pro forma financial information: Adjustmen After ts 2,3 Pro (cents for Before ) ma 29 Adjust Febru men ary ts 2012 1 2,3 Change (cents) (cents 4 ) Earnings per 2.74 (0.10) 2.64 (3.65% share ) Headline 0.68 (0.10) 0.58 (14.71 earnings / %) (loss) per share Net asset 13.09 (0.17) 12.92 (1.30% value per ) share Net tangible (14.47) (3.39) (17.86 (23.43 asset value ) %) per share Number of 202 222 - 202 ordinary 222 shares in issue / Weighted average number of ordinary shares in issue (‘000) Notes: 1. The “Before” basic earnings and headline earnings per share have been extracted without adjustment from the unaudited, published interim results of Muvoni for the 6 months ended 29 February 2012. The “Before” net asset value and tangible net asset value per share have been extracted without adjustment from the financial information presented in the unaudited, published results of Muvoni for the 6 months ended 29 February 2012. 2. The “After pro forma adjustments” earnings per share and headline earnings per share assumes: o Transaction costs of R480,000 directly relating to the transaction. This will not have a continuing effect on Muvoni’s financial results. o Reduction in royalty expense of R1.2 million paid to the Seller in terms of the Royalty Agreement for the 6 months ended 29 February 2012. This will have a continuing effect on the financial results. o Reduction in interest income on the portion of the Purchase Consideration of R6.5 million paid from existing cash reserves based on the average actual investment rate of 4.5% for the period and increase in finance costs on the portion of the Purchase Consideration of R6.5 million paid from overdraft facilities based on the average actual overdraft rate of 11% for the period, being prime plus 2%. o Amortisation of the acquired intangible asset for the six months ended 29 February 2012 on a straight line basis over the remaining useful life of four years. The remaining useful life of the intangible asset is commensurate to the remaining term of the SAPS contract in respect of the AFISwitch project. 3. The “After pro forma adjustments” net asset value and net tangible asset value per share assumes: o Payment of R6.5 million in terms of the Purchase consideration. o Raising of an intangible asset of R6.5 million for the acquisition of the intellectual assets. o Once-off transaction costs of R480,000 directly relating to the Transaction. 4. Measured as the “After pro forma adjustments” column as a percentage of the “Before” column. 14 November 2012 Designated Advisor Sasfin Capital (a division of Sasfin Bank Limited) Date: 14/11/2012 09:36:00 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.