| Fri 15 Oct 2010, 17:45 | | SHF - Steinhoff International Holdings - Dealing in securities by directors |
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SHF
SHF
SHF - Steinhoff International Holdings - Dealing in securities by directors
STEINHOFF INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1998/003951/06)
("Steinhoff")
Share Code: SHF ISIN: ZAE000016176
DEALING IN SECURITIES BY DIRECTORS
In compliance with paragraph 3.63 of the Listing Requirements of the JSE Limited
("JSE"), shareholders are informed that the dealing in securities referred to
below, by directors of a major subsidiary of Steinhoff, Unitrans Holdings
(Proprietary) Limited ("Unitrans Holdings"), relates to rights originally
purchased by the relevant directors and officers in terms of purchase agreements
in respect of securities of the then listed Unitrans Limited ("ULIM") ("the
purchase agreements").
The purchase agreements were concluded with the individuals concerned, at the
time Steinhoff acquired control of ULIM. Shareholders are referred to the SENS
announcement in this regard, issued by ULIM on 13 October 2006.
During 2007 Steinhoff extended an offer to all ULIM minority shareholders in
terms of which Steinhoff would acquire their ULIM shares on the basis of 2
Steinhoff : 1 ULIM ("the minority offer"). Shareholders are referred to the
circular to ULIM shareholders dated 22 March 2007. In terms of the minority
offer, the relevant directors` and officers` rights in respect of ULIM
securities were exchanged for equivalent rights in respect of Steinhoff
securities, in line with those of the other minorities.
The purchase agreements have now reached maturity and pursuant to the
finalisation and settlement of the rights and obligations under the purchase
agreements, the directors and officers mentioned below received a net payment
(after settling all liabilities including holding costs in respect of the
purchase agreements) in respect of the underlying Steinhoff securities as set
out below.
The dealings below did not result in any Steinhoff securities being issued or
sold, i.e. no physical settlement and delivery of Steinhoff securities occurred.
The transaction was finalised on a net settlement basis and was therefore
executed off-market.
Director Rights to Nature of transaction Settlement Net payment
Steinhoff share price received (R)
securities used (cps)
KJ Grove* 2,520,000 Off market disposal 2100 1 158 205.
of rights in respect
of Steinhoff
securities - direct
beneficial
SM Keys 1,465,000 Off market disposal 2100 673 231.
of rights in respect
of Steinhoff
securities - direct
beneficial
N Boshoff 1,225,000 Off market disposal 2100 734 819.
of rights in respect
of Steinhoff
securities - direct
beneficial
F Wagner 877 200 Off market disposal 2100 526 191.
of rights in respect
of Steinhoff
securities - direct
beneficial
* KJ Grove is also an Alternate Director of Steinhoff.
Clearance was granted in terms of paragraph 3.66 of the Listing Requirements of
the JSE for all the above transactions on 14 October 2010.
By Order of the Board
SJ GROBLER
COMPANY SECRETARY
15 October 2010
Sponsor: PSG Capital (Proprietary) Limited
Date: 15/10/2010 17:45:01 Produced by the JSE SENS Department.
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