| Mon 23 Feb 2009, 16:36 | | BFS - Blue Financial Services Limited - Dealing in securities by director |
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BFS
BFS
BFS - Blue Financial Services Limited - Dealing in securities by director
BLUE FINANCIAL SERVICES LIMITED
(Registration number 1996/006595/06)
(Incorporated in the Republic of South Africa)
JSE Code: BFS
ISIN: ZAE000083655
("Blue" or "the company")
DEALING IN SECURITIES BY DIRECTOR
In terms of the firm offer to acquire the entire issued ordinary share capital
of Credit U Holdings Limited ("Credit U") as announced on SENS and in the press
on 7 August 2008("the Credit U transaction), Dave van Niekerk, facilitated an
underwriting role and undertook to acquire 50% of the Blue ordinary shares
received by Credit U shareholders in terms of the Credit U transaction as a
partial cash settlement of the purchase consideration.
Dave van Niekerk converted Blue ordinary shares in a single stock futures
transaction in order to guarantee the cash portion of the purchase
consideration.
In terms of the above underwriting agreement Dave Van Niekerk purchased
16,666,667 Blue ordinary shares.
Dave van Niekerk has now unwound his entire exposure to single stock futures.
Further to the SENS announcements relating to Dave van Niekerk`s single stock
futures transactions as released between the period August 2007 and January 2008
and on 14 August 2008, the following is disclosed in compliance with sections
3.63 - 3.74 of the Listings Requirements of the JSE Limited:
Name of Director: Dave van Niekerk
Position in Company: CEO of Blue
Date of Transaction: 23 February 2009
Number of single stock future contracts: 400,937
Number of securities: 40,093,700
Class of Securities: Ordinary shares in Blue
Futures Price: 344,92 cents per Blue share
Total Value of Transaction: R138,292,467.10
Nature of Transaction: Unwinding / closing out of single
stock futures position and
receiving Blue ordinary shares
Extent of Interest: Direct, beneficial
Clearance Given: Yes
In relation to the unwinding of his single stock futures position, Dave van
Niekerk also purchased the following Blue shares:
Date of transaction: 23 February 2009
Number of securities: 549,000
Class of Securities: Ordinary shares in Blue
Unit price: 342.90 cents per Blue Share
Total value of the transaction: R1,882,524.95
This brings Dave Van Niekerk`s total holdings in Blue to 114,135,474 ordinary
shares which equates to a 19.52% shareholding in the company.
Johannesburg
23 February 2009
Designated Adviser
PSG Capital (Pty) Ltd
Date: 23/02/2009 16:36:02 Produced by the JSE SENS Department.
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