| Mon 28 Dec 2009, 10:54 | | SHF - Steinhoff International Holdings Limited - Dealing In Securities By |
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SHF
SHF
SHF - Steinhoff International Holdings Limited - Dealing In Securities By
Directors
STEINHOFF INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1998/003951/06)
("Steinhoff" or "the company")
Share Code: SHF
ISIN: ZAE000016176
DEALING IN SECURITIES BY DIRECTORS
1. Share Rights Allocation
In compliance with paragraph 3.63 of the Listings Requirements of the JSE
Limited, the company wishes to advise its shareholders of the following
number of rights granted pursuant to the 2009 allocation, at par value of
0,5 cents per share and subject to the relevant performance criteria, under
the group`s share incentive scheme, the maximum number of shares approved
by shareholders in general meeting on 7 December 2009, in respect of the
three year period commencing from 1 July 2009 (the effective date) to the
following directors and officers:
Director/Officer No of shares
JNS du Plessis 398 218
HJK Ferreira 601 348
SJ Grobler 601 348
KJ Grove 427 978
MJ Jooste 1 957 602
AB La Grange 398 202
FJ Nel 366 720
H Odendaal * 263 471
ST Schmidt * 423 002
IM Topping 860 117
DM van der Merwe 626 776
* Directors of major subsidiaries defined in paragraph 3.35 of the
Listing Requirements.
2. Disclosure of share transactions of Steinhoff directors and officers:
2.1 Share Purchases
Shareholders are further advised that the following directors of Steinhoff
have indirectly beneficially purchased on 23 December 2009 the number of
Steinhoff shares listed opposite their names, as set out below, at a
purchase price of 2050 cps:
Director No of shares Purchase price (ZAR)
SJ Grobler 179 412 3 677 946
MJ Jooste 1 000 000 20 500 000
DM van Merwe 179 412 3 677 946
2.2 Sale of shares
Shareholders are further advised that the following director and officer
have directly and indirectly on 23 December 2009 beneficially sold the
number of shares listed opposite their names, as set out below:
Director No. of shares Selling price Total Selling
per share price (ZAR)
(cps)
FJ Nel 1,312,418 2050 26,904,569
H Odendaal* 28,732 2050 589,006
* Director of major subsidiaries defined in paragraph 3.35 of the
Listing Requirements.
2.3 Refinancing of debt
The directors and officers listed below, acting directly and/or indirectly
beneficial, have entered into the transactions set out below on 23 December
2009 as a mechanism to refinance existing debt obligations incurred for the
purchase of Steinhoff shares.
In addition, the relevant shareholders entered into a conditional agreement
of sale on 23 December 2009 to deliver the specified number of Steinhoff
shares, as set out in the table below, in equal tranches on 31 May 2011, 30
June 2011 and 30 September 2011, against payment of a purchase price
determined as:
- 2542 cps if the Steinhoff share price is 2542 cps or higher (unless
the holder exercises the right to settle its obligation to deliver
Steinhoff shares in cash equal to the market value of the Steinhoff
shares);
- 2050 cps if the Steinhoff share price is 2050 cps or lower (unless the
holder exercises the right to settle its obligation to deliver
Steinhoff shares in cash equal to 2050 cps).
The sale is suspended on condition that the Steinhoff share price is, at
the dates referred to above, equal to or exceed 2542 cps, alternatively, is
equal to or less than 2050 cps. It follows that if the Steinhoff share
price is between 2050 cps and 2542 cps no sale will take place.
Director/officer No. of shares
HJK Ferreira 1,494,724
SJ Grobler 1,956,146
AB la Grange 394,154
FJ Nel 1,956,146
H Odendaal * 525,925
DM van der Merwe 2,603,057
* Director of major subsidiaries defined in paragraph 3.35 of the
Listing Requirements.
HJK Ferreira, an executive director, acquired European put options in
respect of 849 032 ordinary shares at a strike price of 2050 cents per
share, expiring on 30 June 2011. The put premium paid amounted to R 1 333
770, equal to 157 cents per option.
3. Clearance
Clearance has been granted in terms of paragraph 3.66 of the Listings
Requirements for all of the above transactions on 15 December 2009.
By Order of the Board
SJ GROBLER
COMPANY SECRETARY
28 December 2009
Sponsor - PSG Capital (Proprietary) Limited
Date: 28/12/2009 10:54:01 Produced by the JSE SENS Department.
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