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BEG
BEG
BEG - Beige Holdings Limited - Change In Director`s Interest In Securities
BEIGE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/006871/06)
("Beige" or "the company")
ISIN Code: ZAE000034161 & Share code: BEG
CHANGE IN DIRECTOR`S INTEREST IN SECURITIES
Trustee Board Investments (Pty) Ltd ("TBI"), a shareholder in Beige, has
concluded a repurchase agreement with some of its own TBI shareholders for the
repurchase of TBI shares. In terms of this agreement certain TBI shareholders
will purchase Beige shares from TBI.
In terms of the TBI repurchase offer, 11 shareholders of TBI will purchase 31
734 322 Beige ordinary shares at 23.9 cents per share and 576 646 Beige
preference shares at 158.9 cents per share from TBI. The selling price is the
trade weighted average for the last 5 business days ending on 31 August 2007,
being the effective date of the transaction.
Trading restrictions and pre-emptive terms have been placed on 31 401 595 of the
Beige ordinary shares and 570 600 of the Beige preference shares sold to
shareholders by TBI. The restrictions are as follows:
1. Restriction on selling the shares during the first 12 months:
1.1 During the first 3 months after the transaction date no Beige shares may be
sold; and
1.2 After 3 months 25% of a shareholder`s shares acquired through the
repurchase agreement may be sold, after 6 months 50%, after 9 months 75%
and after 12 months 100%.
2. The shares will be transferred as the trading restrictions are lifted. All
economic benefit and ownership rights will however vest from the date of
repurchase of the TBI shares.
3. The Beige shares are purchased subject to a right of first refusal in
favour of TBI on any future sale of these shares.
4. These restrictions will lapse if TBI sells all its shares in Beige.
5. TBI may lift any of these restrictions for certain or all shareholders.
As part of the repurchase process, a company which is a shareholder of TBI and
for which Mr MM du Preez acts as a director, will acquire 967 228 Beige ordinary
shares and 17 576 Beige preference shares at the prices noted above. Mr MM du
Preez is not a ordinary shareholder in this company and thus the transaction has
only an indirect, non-beneficial effect.
In compliance with rules 3.63 - 3.74 of the JSE Listing Requirements, the
following information is disclosed.
Name of director: Mr MM du Preez
Name of company: Beige Holdings Limited
Date of transaction: 21 September 2007
Class of securities: Ordinary shares
Number of securities: 967 228
Nature of transaction: Purchase
Price: 23.9 cents per share
Total value of transaction: R231 167.49
Nature of interest: Indirect non-beneficial
Extent of interest: 0.0006%
Name of director: Mr MM du Preez
Name of company: Beige Holdings Limited
Date of transaction: 30 August 2007
Class of securities: Preference shares
Number of securities: 17 576
Nature of transaction: Purchase
Price: 158.9 cents per share
Total value of transaction: R27 928.26
Nature of interest: Indirect non-beneficial
Extent of interest: 0.001%
Clearance for this trade was obtained in accordance with Rule 3.66 of the JSE
Listing Requirements.
Johannesburg
21 September 2007
Designated Advisor
Arcay Moela Sponsors (Pty) Ltd
Date: 21/09/2007 16:55:18 Produced by the JSE SENS Department.
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