| Mon 31 Dec 2007, 8:00 | | PIK - Pick `n Pay Stores Ltd - Issue of new shares and the vesting of the Pick n |
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PIK
PIK
PIK - Pick `n Pay Stores Ltd - Issue of new shares and the vesting of the Pick n
Pay executive share incentive scheme
Pick `n Pay Stores Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1968/008034/06)
Share code: PIK ISIN: ZAE000005443
("the Company")
ISSUE OF NEW SHARES AND THE VESTING OF THE PICK N PAY EXECUTIVE SHARE INCENTIVE
SCHEME
Pursuant to the redemption of an unsecured convertible debenture, issued on 31
December 1997, the Company has issued and listed 20 million new ordinary shares
for a subscription price of R80 million, being R4.00 per share. This increases
the listed ordinary share capital of the Company to R6.3 million divided into
506 133 882 ordinary shares of 1.25 cents each.
The Pick n Pay Executive Share Incentive Scheme ("the scheme"), which was
launched on 31 December 1997 and which purchased the conversion rights of the
unsecured convertible debenture discussed above, vested on 31 December 2007. In
accordance with the rules of the scheme all participants have exercised their
rights to purchase the new shares and in compliance with Rules 3.63 - 3.74 of
the JSE Listing Requirements, the following information is disclosed.
Company director : Nicholas Badminton
Number of shares : 612 012
Cost price per share : R13.12
Date of transaction : 31 December 2007
Class of shares : Ordinary
Nature of transaction : Purchase of shares, pursuant to the vesting of the
scheme
Nature of interest : Direct beneficial
Approval : Approval obtained from Trustees who are non-
executive directors
Company director : Nicholas Badminton
Number of shares : 500 000
Cost price per share : R5.23
Date of transaction : 31 December 2007
Class of shares : Ordinary
Nature of transaction : Purchase of shares, pursuant to the vesting of the
scheme
Nature of interest : Indirect beneficial
Approval : Approval obtained from Trustees who are non-
executive directors
Company director : Dennis Cope
Number of shares : 1 112 013
Cost price per share : R5.67
Date of transaction : 31 December 2007
Class of shares : Ordinary
Nature of transaction : Purchase of shares, pursuant to the vesting of the
scheme
Nature of interest : Indirect beneficial
Approval : Approval obtained from Trustees who are non-
executive directors
Company director : David Robins
Number of shares : 333 604
Cost price per share : R6.35
Date of transaction : 31 December 2007
Class of shares : Ordinary
Nature of transaction : Purchase of shares, pursuant to the vesting of the
scheme
Nature of interest : Indirect beneficial
Approval : Approval obtained from Trustees who are non-
executive directors
Company Secretary : Gary Lea
Number of shares : 278 004
Cost price per share : R6.03
Date of transaction : 31 December 2007
Class of shares : Ordinary
Nature of transaction : Purchase of shares, pursuant to the vesting of the
scheme
Nature of interest : Direct beneficial
Approval : Approval obtained from Trustees who are non-
executive directors
Cape Town
31 December 2007
Sponsor:
Investec Bank Limited
Date: 31/12/2007 08:00:02 Produced by the JSE SENS Department.
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