| Mon 21 Jan 2008, 17:00 | | AUA - Avusa Limited - Dealing In Securities By Directors And Company Secretary |
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AUA
AUA
AUA - Avusa Limited - Dealing In Securities By Directors And Company Secretary
Avusa Limited
(formerly Johnnic Communications Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1889/000352/06)
Share Code: AUA & ISN: ZAE000107090
("Avusa" or "the company")
DEALING IN SECURITIES BY DIRECTORS AND COMPANY SECRETARY
The disposal by the company of an effective economic interest of 38,56% in
Electronic Media Network Limited ("M-Net") and SuperSport International Holdings
Limited ("SuperSport") to Naspers Limited ("Naspers") and consequential
unbundling in December 2007 of the Naspers shares received, has required the
board of directors of the company to make the following modifications to the
company`s share incentives to match the proceeds unbundled:
Grant date Original Modified Cash payment
allocation allocation per incentive
price price R
R R
3 January 2000 135,00 97,71 0,00
1 April 2001 90,00 52,71 0,00
1 May 2002 11,90 0,00 25,39
1 July 2003 14,69 0,00 22,60
1 July 2004 24,00 0,00 13,29
1 July 2005 37,00 0,00 8,62
1 July 2006 55,78 18,49 11,60
(SARS)
1 July 2006 0,00 0,00 22,05
(LTIP)
1 October 2006 0,00 0,00 37,29
(DBP)
1 July 2007 100,00 62,71 17,27
(SARS)
1 July 2007 0,00 0,00 9,10
(LTIP)
1 July 2007 0,00 0,00 37,29
(DBP)
Also, the unbundling has been matched by accelerating the vesting of all
unvested incentives at the rate of 36%.
In terms of paragraphs 3.63 - 3.65 of the Listings Requirements of the JSE
Limited, the following information, relating to the dealing in securities by
directors and the company secretary, is disclosed.
The following cash payments were made on 18 January 2008 to:
Prakash C Desai (Avusa Executive R4 642 270
Director)
Howard Benatar (Avusa Executive R 913 533
Director)
Joanne R Matisonn (Avusa Company R 599 024
Secretary)
Avusa`s auditors, Deloitte & Touche, have reported to the company`s board of
directors that they consider the modifications to the company`s share incentives
to be fair and reasonable, neither prejudicing the participants nor giving
participants benefit beyond that contained in the original terms of the
respective schemes.
Johnnesburg
21 January 2008
Sponsor
Nedbank Capital
Date: 21/01/2008 17:00:03 Produced by the JSE SENS Department.
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