General - Dealings In The Securities Of Blue Label
JSE BLU
GEN
General - Dealings In The Securities Of Blue Label Telecoms Limited
Blue Label Telecoms Limited ("BLT")
Share code : BLU
ISIN : ZAE000109088
The JSE Limited ("the JSE") wishes to advise that it has considered various
dealings in BLT securities by Mr. S. Diamond and his spouse, the spouse of
Mr. S. Kaplan and Mr. G. Prosser. Messrs. Diamond, Kaplan and Prosser are
directors of a major subsidiary of BLT, namely The PrePaid Company (Pty)
Limited. After careful consideration of these dealings and the circumstances
surrounding them, the JSE has found Mr. S. Diamond guilty of breaching
paragraphs 3.65, 3.66, 3.71(a) and 3.72 of the Listings Requirements.
As a result Mr. S. Diamond has been fined R100 000.00 (of which R60 000.00
has been suspended for 12 months). Any further breaches of the Listings
Requirements by Mr. Diamond will result in the suspended fine becoming
payable immediately with possible further action being taken by the JSE.
The JSE wishes to state that it views any breach of the Listings
Requirements in a very serious light and has notified Mr. S. Diamond of the
disappointment of the JSE with respect to his conduct.
The JSE has also found Mr. S. Kaplan guilty of contravening paragraphs
3.71(a) and 3.72 and Mr. G. Prosser guilty of contravening paragraphs 3.65
and 3.66 of the Listings Requirements.
In the interests of clarity the JSE would like to state that it is not a
requirement for associates of directors to obtain clearance to trade.
However, directors are required to notify their associates in writing not
only as to when they are restricted from trading but also that they (the
directors) must be informed when their associates deal in order that the
information may be released over SENS. There is no obligation on the part of
brokers to ensure that directors comply with the Listings Requirements,
other than to follow the instructions given by directors as to when they are
permitted, or not permitted, to conduct trades.
This announcement has been placed by the JSE in the interests of
shareholders.
14 April 2008
Date: 14/04/2008 17:00:01 Produced by the JSE SENS Department.
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