To view the PDF file, sign up for a MySharenet subscription.

MVELASERVE LIMITED - Notice To Shareholders In Respect Of Section 45(5) Of The Companies Act No 71 Of 2008 (The Companies Act)

Release Date: 12/12/2012 16:39
Code(s): MVS     PDF:  
Wrap Text
Notice To Shareholders In Respect Of Section 45(5) Of The Companies Act No 71 Of 2008 (“The Companies Act”)

MVELASERVE LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1999/003610/06
Ordinary share code: MVS
Ordinary share ISIN: ZAE 000151353
(“Mvelaserve” or “the Company”)

NOTICE TO SHAREHOLDERS IN RESPECT OF SECTION 45(5) OF THE
COMPANIES ACT NO 71 OF 2008 (“THE COMPANIES ACT”)

Notice is hereby given as required in terms of Section 45(5) of
the Companies Act that pursuant to the special resolution tabled
and adopted by the shareholders of Mvelaserve at the annual
general meeting held on 6 November 2012 authorising the board of
Mvelaserve to provide financial assistance in terms of section 45
of the Companies Act, and after compliance with the requirements
of Section 45 of the Companies Act (more fully described below),
the board has adopted a resolution to continue to provide direct
or indirect financial assistance (including by way of loans and
guarantees) to related or inter-related companies in the ordinary
course of business, as contemplated in Section 45(2) of the
Companies Act.

The board of Mvelaserve, when authorising Mvelaserve to provide
direct or indirect financial assistance in terms of Section 45(2)
of the Companies Act, was satisfied that –
* immediately after providing the financial assistance, Mvelaserve
would satisfy the solvency and liquidity test, as contemplated in
Section 4 of the Companies Act;
* the terms under which the financial assistance is proposed to be
given are fair and reasonable to Mvelaserve; and
* the conditions or restrictions regarding the granting of
financial assistance set out in Mvelaserve’s Memorandum of
Incorporation had been satisfied.

Mvelaserve will be delivering a copy of this announcement to all
shareholders recorded in the register on 30 November 2012, as
written notice of that resolution, in compliance with Section
45(5) of the Companies Act.


Johannesburg
12 December 2012

Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)

Date: 12/12/2012 04:39:00 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.

Share This Story