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Mon 29 Jul 2013
Close: 17c 
Day's move: 0c (0.00%)
Volume: 0
Trades: 0
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Muvoni -fulfilment of the outstanding conditions
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
- Last day to trade Muvoni shares on the JSE in order to be recorded in the register to receive the Scheme Consideration onFriday, 19 July 2013
- Suspension of listing from the Alt-X board of the securities exchange owned and operated by the JSE of Muvoni shares at commencement of trading on Monday, 22 July 2013
- Scheme record date, being the time and date on which scheme participants must be recorded in the register to receive the Scheme Consideration, which is expected to be by 17:00 on Friday, 26 July 2013
- Expected operative date of the scheme on Monday, 29 July 2013
- 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 scheme record date) on or about Monday, 29 July 2013
- Dematerialised scheme participants expected to have their accounts (held at their CSDP or broker) updated on Monday, 29 July 2013
- Termination of listing of Muvoni shares from the Alt-X board of the securities exchange owned and operated by the JSE at the commencement of trading on or about Tuesday, 30 July 2013
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Muvoni announce results of meeting
The board of directors of the company announced that at the scheme meeting of the company held on 14 June 2013, all the ordinary and special resolutions tabled in the notice of the scheme meeting ("the Resolutions"), which notice was included and posted to shareholders as part of the scheme circular dated 14 May 2013, were approved by the shareholders of the company, present or represented by proxy. In excess of 99.76% of scheme members voted in favour of the Resolutions.
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Muvoni expecting a loss
Shareholders are advised that the basic loss per share will be approximately 0.39 cents per share compared to earnings of 2.74 cents per share for the six months ended 29 February 2012. The headline loss per share will be approximately 0.39 cents per share for the six months ended 28 February 2013 compared to the headline earnings of 0.68 cents per share for the six months ended 29 February 2012. The interim results will be published on or about 31 May 2013.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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