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MUVONI TECHNOLOGY GROUP LTD - Fulfilment of the outstanding conditions precedent and finalisation announcement

Release Date: 09/07/2013 14:15
Code(s): MTG     PDF:  
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Fulfilment of the outstanding conditions precedent and finalisation announcement

Muvoni Technology Group Limited
(formerly known as “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")

FULFILMENT OF THE OUTSTANDING CONDITIONS PRECEDENT AND
FINALISATION ANNOUNCEMENT

Muvoni shareholders are referred to the announcement published on SENS on
14 June 2013, regarding the approval at the Muvoni shareholders’ meeting, by
the requisite majority of Muvoni shareholders present and voting in person or by
proxy, of the scheme of arrangement proposed by the board of Muvoni between
Muvoni and its shareholders (“the Scheme”).

Shareholders are hereby advised that all the conditions has been fulfilled or
waived, and therefore all conditions precedent to the Scheme, as detailed in the
circular issued to Muvoni shareholders on 14 May 2013 (“the Circular”) have
been fulfilled and accordingly the Scheme is now unconditional.

In terms of the Scheme, each Muvoni shareholder other than the Excluded
Shareholders will receive 20 cents in cash for every Muvoni share held (the
“Scheme Consideration”):

Important dates and times                                                                       2013
Last day to trade Muvoni shares on the JSE in order to be recorded in the              Friday, 19 July
register to receive the Scheme Consideration on
Suspension of listing from the Alt-X board of the securities exchange owned          Monday, 22 July
and operated by the JSE of Muvoni shares at commencement of trading on
Scheme record date, being the time and date on which scheme participants               Friday, 26 July
must be recorded in the register to receive the Scheme Consideration, which
is expected to be by 17:00 on
Expected operative date of the scheme on                                             Monday, 29 July
Scheme Consideration expected to be paid/posted to certificated scheme
participants (if documents of title are received on or prior to 12:00 on the         Monday, 29 July
scheme record date) on or about
Dematerialised scheme participants expected to have their accounts (held at          Monday, 29 July
their CSDP or broker) updated on
Termination of listing of Muvoni shares from the Alt-X board of the securities       Tuesday, 30 July
exchange owned and operated by the JSE at the commencement of trading
on or about
Notes:
1.     All times given in this document are local times in South Africa.
2.     Share certificates may not be dematerialised or rematerialised after Friday, 19 July 2013.

Rosebank
9 July 2013
Transactional Designated Advisor to Muvoni: PSG Capital
Legal advisor to Muvoni: ENS
Corporate Advisor to Muvoni: DEA-RU

Date: 09/07/2013 02:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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