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MORVEST BUSINESS GROUP LIMITED - Renewal of cautionary, posting of circular and amendment to proforma information on previous announcement

Release Date: 22/08/2013 16:14
Code(s): MOR     PDF:  
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Renewal of cautionary, posting of circular and amendment to proforma information on previous announcement

MORVEST BUSINESS GROUP LIMITED
 (Incorporated in the Republic of South Africa)
(Registration No. 2003/012583/06)
Share code: MOR ISIN code: ZAE000152567
(“Morvest” or “the Company”)

POSTING OF THE CIRCULAR
RENEWAL OF CAUTIONARY ANNOUNCEMENT
AMENDMENT TO PRO FORMA FINANCIAL INFORMATION ANNOUNCED ON 30 JULY 2013

Shareholders are referred to the announcement dated 30 July 2013 regarding the implementation of a
BEE transaction in terms of which certain executive directors, non-executive directors and group
executives of Morvest will obtain a shareholding in Morvest.

Shareholders are now advised that the circular has been posted today, 22 August 2013.

A copy of the circular will also be made available on the company’s website www.morvest.co.za.

SALIENT DATES AND TIMES

                                                                                                 2013

 Record date to determine which shareholders are entitled to                       Friday, 16 August
 receive the circular containing the notice of general meeting

 Last day to trade in order to be eligible to attend and vote at               Friday, 13 September
 the general meeting

 Record date to determine which shareholders are entitled to                   Friday, 20 September
 attend and vote at the general meeting

 Forms of proxy to be lodged by 08:00 on                                 Wednesday, 25 September

 General meeting of Morvest to be held at 08:00 on                          Friday, 27 September

 Results of general meeting announced on SENS                                  Friday, 27 September

 Results of general meeting announced in the press                           Monday, 30 September

 List new Morvest shares and receive payment of subscription       Subscription date, estimated to be
 consideration on or about                                             on or about Friday, 4 October


RENEWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the cautionary announcement dated 30 July 2013 and are advised that
as Morvest has entered into new discussions that may have an impact of the trading price of the
Morvest shares, shareholders are advised to continue exercising caution when dealing in Morvest’
securities until a further announcement is made.

AMENDMENT TO PRO FORMA FINANCIAL INFORMATION
Shareholders are further referred to the announcement dated 30 July 2013, specifically to paragraph
8.1 of the said announcement, disclosing the pro forma financial effects and are informed that the pro
forma financial effects as disclosed in said announcement were revised and the amended pro forma
financial effects are included below:



                         As at 30
                        November
                                                                           Pro forma
                          2012
                                         Pro forma                       After the BEE
                                          after the                       transaction
 Per Morvest                                BEE                               and
 share (cents)            Before        transaction      Change %        consolidation      Change %

 Basic earnings                -0.62           -0.40            36.1%              -1.18         (90.3%)

 Fully diluted
                               -0.49           -0.34            30.6%              -0.89         (81.4%)
 earnings

 Headline earnings              5.20            3.27          (37.1%)               4.63         (10.8%)

 Fully diluted
                                4.08            2.79          (31.7%)               3.47           (15%)
 Headline earnings

 Net asset value               34.71           28.57          (17.7%)              23.46         (32.4%)

 Net tangible asset
                                5.77            8.88            54.0%               3.77         (34.7%)
 value

 Weighted average
                       493,140,984      783,140,984                         493,140,984
 shares

 Diluted weighted
                       628,140,984      918,140,984                         659,212,412
 average shares

 Number of shares      617,850,000      907,850,000                         907,850,000


Note: The total number of shares in issue post the BEE transaction will be 880 000 000.

All other information relating to the financial effects in the announcement of 30 July 2013 remains the
same

22 August 2013

Corporate Advisor and Sponsor
Sasfin Capital
A division of Sasfin Bank Limited

Date: 22/08/2013 04:14:00 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
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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,
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