| Thu 21 Feb 2008, 16:15 | | MMH - Miranda - Dealing In Securities By A Director - Exercise Of Options |
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MMH
MMH
MMH - Miranda - Dealing In Securities By A Director - Exercise Of Options
Miranda Mineral Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1998/001940/06)
Share code: MMH & ISIN: ZAE000074019
("Miranda" or "the Company" or "the Group")
Dealing in securities by a director - exercise of options
In compliance with section 3.63 to 3.74 of the Listings Requirements of the JSE
Limited ("the Listings Requirements"), the following information detailing share
dealings by a director is disclosed:
Name of director Mr. Ronald John Nel
Designation Chief Executive Officer
Date the transaction was
effected 19 February 2008
Nature of transaction Sale of shares in terms of a call option
Class of security Options over ordinary shares
Number of securities 2,500,000 (two million five hundred thousand)
Strike price R0.80 (eighty cents)
Exercise period/strike date 15 February 2008
Nature of director`s interest Indirect beneficial
As further detailed in a previous SENS announcement (dated 20 February 2007),
Mr. Nel had agreed to the issue of these call options (in two tranches, "A" and
"B") to facilitate a strategic investment by Spyglass Hedge Fund ("Spyglass") in
the Group. Mr. Nel had managed to negotiate back-to-back call options in his
favour with another shareholder for approximately 60% of his gross exposure. The
2,500,000 shares above represent the shortfall on the "Option A" shares. Mr.
Nel holds a further 2,500,000 call options, which he is entitled to exercise on
or before 15 August 2008 if his "Option B" shares are called upon by Spyglass.
In compliance with section 3.66 of the Listings Requirements, clearance for this
transaction was given by Mr. Alan Thompson, Chairman of Miranda. The effect of
the transaction has been to reduce Mr Nel`s share holding from 7.3% to 6.1%. Mr
Nel therefore remains a significant shareholder in the group.
Centurion
21 February 2008
Sponsor:
Sasfin Capital
(A division of Sasfin Bank Limited)
Corporate Advisor:
Touchstone Capital (Pty) Limited
Enquiries:
Miranda Mineral Holdings Ltd +27 (0) 12 654 1345
Ron Nel, CEO
Wayne Ison, Financial Director
www.mirandaminerals.com
Date: 21/02/2008 16:15:01 Produced by the JSE SENS Department.
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