| Thu 14 Aug 2008, 12:28 | | BFS - Blue Financial Services Limited - Dealing in securities by directors |
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BFS
BFS
BFS - Blue Financial Services Limited - Dealing in securities by directors
BLUE FINANCIAL SERVICES LIMITED
(Registration number 1996/006595/06)
(Incorporated in the Republic of South Africa)
JSE Code: BFS
ISIN: ZAE000083655
("Blue")
DEALING IN SECURITIES BY directorS
Blue and Credit U Holdings Limited ("Credit U") released a joint announcement
on SENS on 7 August 2008 relating to a firm offer by Blue to acquire the entire
issued ordinary share capital of Credit U, by the issue of 51 508 750 Blue
ordinary shares at an issue price of 540 cents per Blue share, resulting in
a purchase consideration of R278,147,250 ("the Credit U offer"). Dave van
Niekerk has undertaken to acquire 50% (25,754,375) of the Blue ordinary shares
received by Credit U shareholders in terms of the Credit U offer as a partial
cash settlement of the purchase consideration.
Dave van Niekerk entered into a single stock futures transaction in order to
fund the cash portion of the purchase consideration. In this regard and in
compliance with sections 3.63 - 3.74 of the Listings Requirements of the JSE
Limited and in terms of Dave van Niekerk`s obligations as stipulated above,
the following information is disclosed:
Name of Director: Dave van Niekerk
Company: CEO of Blue
Date of Transaction : 12 August 2008
Class of Securities : ordinary shares in Blue
Unit Price (Futures Price): 668 cents per share
Number of Securities: 31 000 000
Total Value of Transaction: R207,080,000
Nature of Transaction: Conversion of 31,000,000 Blue ordinary shares
into single stock futures in order to raise
the required funds to partially settle the
Credit U offer in cash
Extent of Interest : Direct, beneficial
Clearance Given: Yes
Johannesburg
14 August 2008
Designated Adviser
PSG Capital (Pty) Ltd
Date: 14/08/2008 12:28:01 Produced by the JSE SENS Department.
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