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Mvela delays documents on proposed acquisition

12 Jul 2012

Mvelaphanda Group has delayed posting the documents relating to its proposed takeover of media group Avusa until next Wednesday, 18 July 2012.

In a joint-statement on Tuesday‚ Mvela and Avusa said due to the complex structure of the transaction‚ the JSE‚ Takeover Regulation Panel and Companies and Intellectual Property Commission review process is proving to be more time-consuming than initially anticipated.

The required documents include a scheme of arrangement circular to be sent to Avusa shareholders for approval‚ a prospectus and pre-listing statement for Richtrau in relation to its listing‚ and a category 1 circular to be sent to Mvela Group shareholders to approve the acquisition.

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za