| Wed 23 Sep 2009, 7:05 | | PGL - Pallinghurst - Directors` Dealings In Securities |
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PGL
PGL
PGL - Pallinghurst - Directors` Dealings In Securities
PALLINGHURST RESOURCES LIMITED
(Previously Pallinghurst Resources (Guernsey) Limited)
(Incorporated in Guernsey)
(Guernsey registration number 47656)
(South African external company registration number 2009/012636/10)
Share code on the BSX: PALLRES ISIN: GG00B27Y8Z93
Share code on the JSE: PGL
("Pallinghurst" or "the Company")
DIRECTORS` DEALINGS IN SECURITIES
Pallinghurst shareholders are referred to the announcement released on the
Securities Exchange News Service on Tuesday, 8 September 2009 and the
circular posted to Pallinghurst shareholders on Monday, 7 September 2009
("Circular") in relation to the proposed capital raising of R800 million by
way of a renounceable rights offer ("Rights Offer"). As set out in the
aforementioned announcement and circular, the directors of the Company
("Directors") and the partners of Pallinghurst (Cayman) GP L.P., the
Company`s investment manager ("Investment Manager"), collectively subscribed
for 11,214,286 Rights Offer shares, of which 10,169,720 Rights Offer shares
represented their Rights Offer entitlement and 1,044,566 Rights Offer shares
represented an excess application. On Monday 7 September 2009, the Directors
and the partners of the Investment Manager were issued and allotted 4,783,505
Rights Offer shares under the terms of the Rights Offer pre-placement ("Pre-
placement").
Further to the issue of 4,783,505 Rights Offer shares under the terms of the
Pre-placement, Mr Arne H. Frandsen, Mr Andrew Willis, Mr Sean Gilbertson and
Mr Priyank Thapliyal have collectively acquired a further 6,310,735
Pallinghurst nil-paid letters ("Nil-paid Letters"), through the acquisition
of 5,386,215 Nil-paid Letters from a trust connected to Mr Brian Gilbertson
and an additional 924,520 Nil-paid Letters in the market.
The aforementioned acquisitions collectively increase the Directors` and
partners of the Investment Manager`s interest in and entitlement to
11,094,240 Rights Offer shares, which additional entitlement to 6,310,735
shares will be taken-up on conclusion of the Rights Offer.
The following is disclosed in compliance with rules 3.63 to 3.65 of the
Listings Requirements of the JSE Limited:
Name: Brian Gilbertson
Designation: Chairman of the Company and
partner of the Investment
Manager
Date of transaction: 18 September 2009
Class of securities: Nil-paid Letters
Number of Nil-paid Letters 5,386,215
disposed of:
Price of Nil-paid Letters: R0.0665
Value of transaction: R358,183.31
Nature of transaction: Sale of Nil-paid Letters
Nature of interest: Indirect, beneficial
Clearance to deal obtained: Yes
Name: Arne H. Frandsen
Designation: Chief Executive Officer of the
Company and partner of the
Investment Manager
Date of transactions: 18 September 2009
Class of securities: Nil-paid Letters
Number of Nil-paid Letters 1,625,116
acquired:
Price of Nil-paid Letters: R0.0665
Value of transaction: R108,070.22
Number of Nil-paid Letters 278,944
acquired:
Price of Nil-paid Letters: R0.0215
Value of transaction: R5,997.30
Nature of transactions: Acquisition of Nil-paid Letters
Nature of interest: Direct, beneficial
Clearance to deal obtained: Yes
Name: Andrew Willis
Designation: Director of the Company and
partner of the Investment
Manager
Date of transactions: 18 September 2009
Class of securities: Nil-paid Letters
Number of Nil-paid Letters 510,867
acquired:
Price of Nil-paid Letters: R0.0665
Value of transaction: R33,972.65
Number of Nil-paid Letters 87,688
acquired:
Price of Nil-paid Letters: R0.0215
Value of transaction: R1,885.29
Nature of transactions: Acquisition of Nil-paid Letters
Nature of interest: Direct, beneficial
Clearance to deal obtained: Yes
Name: Sean Gilbertson
Designation: Partner of the Investment
Manager
Date of transactions: 18 September 2009
Class of securities: Nil-paid Letters
Number of Nil-paid Letters 1,625,116
acquired:
Price of Nil-paid Letters: R0.0665
Value of transaction: R108,070.22
Number of Nil-paid Letters 278,944
acquired:
Price of Nil-paid Letters: R0.0215
Value of transaction: R5,997.30
Nature of transactions: Acquisition of Nil-paid Letters
Nature of interest: Direct, beneficial
Clearance to deal obtained: Yes
Name: Priyank Thapliyal
Designation: Partner of the Investment
Manager
Date of transactions: 18 September 2009
Class of securities: Nil-paid Letters
Number of Nil-paid Letters 1,625,116
acquired:
Price of Nil-paid Letters: R0.0665
Value of transaction: R108,070.22
Number of Nil-paid Letters 278,944
acquired:
Price of Nil-paid Letters: R0.0215
Value of transaction: R5,997.30
Nature of transactions: Acquisition of Nil-paid Letters
Nature of interest: Direct, beneficial
Clearance to deal obtained: Yes
Guernsey
22 September 2009
Sponsor
Investec Bank Limited
Date: 23/09/2009 07:05:05 Produced by the JSE SENS Department.
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