| Thu 5 Feb 2009, 9:18 | | BEG - Beige Holdings Limited - Change in Black Economic Empowerment Partner |
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BEG
BEG
BEG - Beige Holdings Limited - Change in Black Economic Empowerment Partner,
restructure of the board and associated changes in directors` interests
BEIGE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/006871/06)
("Beige" or "the company")
ISIN Code: ZAE 000034161 Share code: BEG
CHANGE IN BLACK ECONOMIC EMPOWERMENT PARTNER, RESTRUCTURE OF THE BOARD AND
ASSOCIATED CHANGES IN DIRECTORS` INTERESTS
The board of directors of Beige is pleased to announce that Thebe Investment
Corporation (Proprietary) Limited ("Thebe Investment Corporation") has acquired
563 294 600 shares in Beige, amounting to a 33.45% interest in the company,
subject to Competition Commission clearance, thereby increasing Beige`s BEE
credentials in terms of shareholding. The transaction was negotiated and
facilitated following the close out of Thebe Medicare (Proprietary) Limited`s
("Thebe Medicare") single stock future ("SSF") position in respect of 482 425
990 shares.
Pursuant to the acquisition of the shares by Thebe Investment Corporation, the
board of directors will be restructured, with Messrs John Black and Yaseen
Bhayat, who represented Thebe Medicare on the board, resigning, and
Messrs Vusi Khanyile and Monwabisi Fandeso of Thebe Investment Corporation,
being appointed to the board. Mr Vusi Khanyile will take over as chairman of
the Beige board.
The board would like to thank Messrs Black and Bhayat for their valued
contribution to the board over the past two years.
The interests of Messrs Khanyile and Fandeso in the securities of Beige that
arise as a result of the acquisition will be disclosed on SENS following the
receipt of Competition Commission approval.
The close out of Thebe Medicare`s single stock future position resulted in the
following change in directors` interests in the securities of the company.
Name of Director: Y Bhayat
Name of Company: Beige
Date of Transaction: 18 December 2008
Class of Securities: Single Stock Futures
Number of SSF contracts 758 610 SSF contracts
(representing 100 shares per SSF representing 75 861 000
contract): shares
Nature of Transaction: Sale arising from close out
of SSF position
Price per SSF contract: R10.00
Total value of transaction: R7 568 100
Nature of interest: Indirect Beneficial
Extent of interest: 4.50%
Clearance given: Yes
Name of Director: J Black
Name of Company: Beige
Date of Transaction: 18 December 2008
Class of Securities: Single Stock Futures
Number of SSF contracts 309 637 SSF contracts
(representing 100 shares per SSF representing 30 963 700
contract): shares
Nature of Transaction: Sale arising from close out
of SSF position
Price per SSF contract: R10.00
Nature of interest: Indirect Beneficial
Total value of transaction: R3 096 370
Extent of interest: 1.84%
Clearance given: Yes
Johannesburg
5 February 2009
Designated Advisor
Arcay Moela Sponsors (Pty)
Ltd
Date: 05/02/2009 09:18:01 Produced by the JSE SENS Department.
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