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PLC
PLC
PLC - Placecol - Change In Directors` Shareholdings As A Result Of The
Implementation Of The First Specific Repurchase Of Shares
PLACECOL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2003/025374/06)
JSE code: PLC
ISIN: ZAE000102307
("Placecol" or "the company")
CHANGE IN DIRECTORS` SHAREHOLDINGS AS A RESULT OF THE IMPLEMENTATION OF THE
FIRST SPECIFIC REPURCHASE OF SHARES
The company`s Prospectus incorporated details of the restructuring agreement
and the requirement to repurchase shares from the original vendors should the
consolidated net profit after tax for the year ended 29 February 2008 be less
than R9.2 million calculated on the basis that Placecol would repurchase 535
306 of the Placecol shares issued to the vendors for every R50 000 by which
the February 2008 PAT was less than R9.2 million for the aggregate sum of
R1.00. At the annual general meeting held on 2 October 2008 ("annual general
meeting"), shareholders approved a repurchase of 11 893 332 shares from the
original vendors, which repurchase was not effected at that time as the
company was in a prohibited period in terms of the JSE Limited ("JSE")
Listings Requirements. Subsequent to the annual general meeting, adjustments
were made to the company`s audited results for the year ended 29 February 2008
and a circular, dated 10 June 2009, giving notice of a shareholders` meeting
to be held on 2 July 2009, has been sent to shareholders to obtain their
approval for the specific repurchase of a further 19 806 322 shares from the
original vendors ("the second repurchase") in terms of the abovementioned
restructuring agreement.
The first repurchase was effected on 17 June 2009 and the relevant shares were
delisted from the JSE on that date.
As a consequence of the first repurchase, the direct beneficial shareholdings
of the following directors in the company`s shares have changed as set out
below:
Name of Number of shares Number of Balance
shareholder held before the shares at 17 June 2009
first repurchase repurchased
CW Moolman 25 593 857 4 788 059 20 805 798
WJ de Wet 27 343 857 4 788 059 22 555 798
Midrand
19 June 2009
Corporate and Designated Adviser
Vunani Corporate Finance
Date: 19/06/2009 09:17:01 Produced by the JSE SENS Department.
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