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THE BIDVEST GROUP LIMITED - Results of scheme meeting

Release Date: 20/09/2013 15:00
Code(s): BVT MVS     PDF:  
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Results of scheme meeting

 Mvelaserve Limited                                   The Bidvest Group Limited
 (Incorporated in the Republic of South Africa)       (Incorporated in the Republic of South Africa)
 (Registration number 1999/003610/06)                 (Registration number 1946/021180/06)
 Share Code: MVS                                      Share Code: BVT
 ISIN: ZAE000151353                                   ISIN: ZAE000117321
 (“Mvelaserve”)                                       (“Bidvest”)


Shareholders are referred to the joint announcement released on SENS on 23 August 2013 and the
circular dated 23 August 2013 setting out the terms of the offer extended by Bidvest to holders of the
issued ordinary share capital of Mvelaserve that it does not already own or has entered into an
agreement to acquire (herein after referred to as the “Remaining Shareholders”) and excluding the
treasury shares of Mvelaserve, by way of a scheme of arrangement (“Scheme”) proposed in terms of
section 114 of the Companies Act, 71 of 2008 or alternatively, if the resolution proposing the Scheme
is not approved by the requisite number of the Remaining Shareholders, by the implementation of a
substitute offer that will be deemed to have been made by Bidvest to the Remaining Shareholders
("Substitute Offer") (collectively, "the Proposed Transaction").

Mvelaserve shareholders are advised that, at the scheme meeting held on Friday, 20 September
2013, to consider the Proposed Transaction, the special resolutions to approve the Scheme were
passed by the requisite majority of Remaining Shareholders.

The implementation of the Proposed Transaction remains subject to the receipt of approval from the
South African Competition Authorities. Once all the conditions precedent to the Scheme have been
fulfilled or waived (in whole or in part), as the case may be, a further announcement regarding the
relevant dates for the implementation of the Scheme will be made.

20 September 2013

For all enquiries, please contact either:

Mvelaserve communication advisor:                 Bidvest communication representative:
College Hill                                      David Cleasby
Frederic Cornet or Vanessa Williams               Financial Director
011 447 3030                                      The Bidvest Group Limited
                                                  011 772 8706

Corporate Advisor and Transaction Sponsor to Mvelaserve: Bridge Capital Advisors (Pty) Ltd
Legal Advisor to Mvelaserve: DLA Cliffe Dekker Hofmeyr Inc.
Communications Advisors to Mvelaserve: College Hill
Investment Bank, Sponsor and Transaction Advisor to Bidvest: Investec Bank Limited
Legal Advisor to Bidvest: Edward Nathan Sonnenbergs

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