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PET
PET
PET - Petmin Limited - Conclusion of BEE transaction, dealing in securities
by a director and further cautionery
PETMIN LIMITED
(Previously Petra Mining Limited)
Incorporated in the Republic of South Africa
Registration Number 1972/001062/06
Share Code: PET ISIN: ZAE000010237
("Petmin", "the company" or "the group")
CONCLUSION OF BEE TRANSACTION, DEALING IN SECURITIES BY A DIRECTOR AND
FURTHER CAUTIONERY
The board wishes to announce that, when in 2005 Petmin closed a major
acquisition and obtained shareholder approval therefore, that transaction
included the funding of Dark Capital (Pty) Ltd ("Dark"), the BEE partner,
by the New Africa Mining Fund ("the NAMF").
On 19 March 2007 Dark concluded an option agreement with the NAMF to
exercise its rights to settle the relevant financing provided in 2005 and
thus increase its economic interest in the company. This option was
subsequently extended from 15 May 2007 to 15 June 2007.
Petmin`s Board has concluded that the transaction will "benefit" Petmin as
the economic see-through black economic empowerment equity of Petmin will
increase by approximately 7%. Dark will also have to dispose of some Petmin
shares to finance the exercise of the option.
To this end and in terms of paragraphs 3.63 - 3.74 of the Listings
Requirements of the JSE Limited shareholders are advised that the following
information relating to share dealings by a director is accordingly
disclosed:
Director: AR Martin (Non-executive Director)
Date: 12 June 2007
Price: R 2,05
Number of shares: 9 000 000
Class: Ordinary shares
Nature: Sale
Total consideration: R18 450 000
Extent of Directors` interest: Indirect non-beneficial
Director: AR Martin (Non-executive Director)
Date: 12 June 2007
Price: R2,10
Number of shares: 400 000
Class: Ordinary shares
Nature: Sale
Total consideration: R840 000
Extent of Directors` interest: Indirect non-beneficial
Clearance to sell these shares has been given in terms of rule 3.66 of the
JSE Listings Requirements.
FURTHER CAUTIONARY
Shareholders are advised that the company is still in negotiations, which
if successfully concluded may have a material effect on the price of the
company`s securities. Accordingly, shareholders are advised to exercise
caution when dealing in Petmin`s securities until a full announcement is
made
Pretoria
14 June 2007
Sponsor
River Group
Date: 14/06/2007 09:09:13 Produced by the JSE SENS Department.
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