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ABO
ABO
ABO - Absolute Holdings Limited - Directors` Dealings In Securities And Update
Of Transfer In Terms Of Prior Announcement
ABSOLUTE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/004649/06)
(JSE code: ABO) & (ISIN: ZAE000062998)
("Absolute" or "the company")
DIRECTORS` DEALINGS IN SECURITIES AND UPDATE OF TRANSFER IN TERMS OF PRIOR
ANNOUNCEMENT
1. Update on directors` dealing announcement dated 22 May 2008
Shareholders are referred to the directors` dealing announcement which was
released on SENS on 22 May 2008 detailing Calulo Resources (Proprietary)
Limited`s ("Calulo") intention to acquire 66 666 667 Absolute ordinary
shares from Mr RG Niemoller ("the Seller"), whereby the Seller has agreed
to sell the Absolute ordinary shares to Calulo for a purchase consideration
of R2 000 000. The purchase consideration is payable by Calulo to the
Seller in ten equal monthly payments of R200 000. As at 30 June 2008
Calulo has paid R800 000 to the Seller in lieu of the purchase
consideration due and payable to the Seller as at 30 June 2008 and Calulo
therefore advises of its intention to take transfer of 26 666 667 Absolute
shares paid for as at 30 June 2008.
2. Directors dealings in securities - acquisition of vendor shares
Shareholders are referred to the announcement which was released on SENS on
30 June 2008, which announcement detailed the acquisition of the businesses
of Allied Quartzite (Proprietary) Limited and Richtersveld Quartzite
Company Limited ("the Quartzite Sellers"), the purchase consideration of
R1.8 million of which will be settled through the vendor issue of 45 000
000 new ordinary shares in Absolute at an issue price of 4 cents per share.
Calulo Resources (Proprietary) Limited ("Calulo") advises of its intention
to acquire 45 000 000 Absolute ordinary shares from the Quartzite Sellers
as previously advised, in order to increase its BEE shareholding in
Absolute. The agreement pertaining to the above has an indirect effect on
certain directors` interests in Absolute.
In compliance with rules 3.63 - 3.74 of the JSE Listing Requirements, the
following information is disclosed.
Name of Director M Diale
Date of transaction: 30 June 2008
Class of securities: Ordinary shares
Number of securities: 1 622 246
Price per share: 4 cents
Total value of transaction: R64 889.86
Nature of transaction: Purchase
Nature of interest: Indirect beneficial
Extent of interest: 0.20%
Name of Director GP Sequeira
Date of transaction: 30 June 2008
Class of securities: Ordinary shares
Number of securities: 405562
Price per share: 4 cents
Total value of transaction: R16 222.46
Nature of transaction: Purchase
Nature of interest: Indirect beneficial
Extent of interest: 0.05%
Name of Director JJ Serfontein
Date of transaction: 30 June 2008
Class of securities: Ordinary shares
Number of securities: 901 248
Price per share: 4 cents
Total value of transaction: R36 049.92
Nature of transaction: Purchase
Nature of interest: Indirect beneficial
Extent of interest: 0.11%
3. Directors dealings in securities - acquisition of former employee shares
Calulo further advise that they have been offered 5 000 000 Absolute
ordinary shares at 4 cents per share by W Boshoff, a former employee of the
company, the offer of which has been accepted by Calulo. The purchase
pertaining to the above has an indirect effect on certain directors`
interests in Absolute.
Name of Director M Diale
Date of transaction: 30 June 2008
Class of securities: Ordinary shares
Number of securities: 180 250
Price per share: 4 cents
Total value of transaction: R7 209.98
Nature of transaction: Purchase
Nature of interest: Indirect beneficial
Extent of interest: 0.022%
Name of Director GP Sequeira
Date of transaction: 30 June 2008
Class of securities: Ordinary shares
Number of securities: 45 062
Price per share: 4 cents
Total value of transaction: R1 802.50
Nature of transaction: Purchase
Nature of interest: Indirect beneficial
Extent of interest: 0.006%
Name of Director JJ Serfontein
Date of transaction: 30 June 2008
Class of securities: Ordinary shares
Number of securities: 100 139
Price per share: 4 cents
Total value of transaction: R4 005.55
Nature of transaction: Purchase
Nature of interest: Indirect beneficial
Extent of interest: 0.012%
Clearance to deal was obtained in accordance with paragraph 3.66 of the JSE
Listings Requirements.
Johannesburg
30 June 2008
Sponsor
Arcay Moela Sponsor (Pty) Ltd
Date: 30/06/2008 17:51:41 Produced by the JSE SENS Department.
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