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September 9, 2005
South African black-owned Mvelaphanda Group has proposed to raise R520m
South African black-owned Mvelaphanda Group has proposed to raise R520-million to 'discharge cash obligations' arising from possible corporate action through preference shares on the JSE.
Some of the funds raised by the company chaired by Tokyo Sexwale will be used to discharge Mvela's cash obligations arising from a proposed transaction for which it had previously issued a cautionary announcement.
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Posted by bernievn at September 9, 2005 3:12 PM