| Fri 8 Apr 2011, 17:39 | | MTX - Metorex Limited - Directors` dealings in securities |
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MTX
MEMTX
MTX - Metorex Limited - Directors` dealings in securities
Metorex Limited
(Incorporated in the Republic of South Africa)
(Registration number 1934/005478/06)
Share code: MTX
ISIN: ZAE000022745
Issuer code: MEMTX
("Metorex" or the "Company")
DIRECTORS` DEALINGS IN SECURITIES
Shareholders are referred to the joint firm intention announcement released on
SENS on 8 April 2011 whereby details of the written proposal submitted by Vale
S.A. (the "Offeror") through its wholly owned subsidiary, Vale, to the Company
to acquire the entire issued and to be issued ordinary share capital of the
Company (the "Offer") were provided.
In compliance with paragraph 3.63 of the JSE Limited Listings Requirements,
Metorex hereby advises its shareholders of the following dealings by the
associates of two directors of the Company:
Name of director: Robert George Still
Non-executive director of: Metorex
Name of associate: Beankin Investments (Proprietary) Limited ("Beankin")
Relationship with the director: Beankin is a family trust-controlled entity
Date of transaction: 8 April 2011
Price per share (being the offer
price in terms of the Offer): R7.35
Number of shares: 9 079 000
Total value: R66 730 650
Class of shares: Ordinary
Extent and interest: Indirect and beneficial
Trades carried out on-market
or off-market: N/A
Prescribed clearance given: Yes
Name of director: Alberto Barrenechea
Non-executive director of: Metorex
Name of associate: Minersa Minerales y Productos Derivados, S.A ("Minersa")
Relationship with the director: Mr Barrenechea is a director and shareholder
in Minersa
Date of transaction: 8 April 2011
Price per share (being the offer
price in terms of the Offer): R7.35
Number of shares: 89 242 524
Total value: R655 932 551
Class of shares: Ordinary
Extent and interest: Indirect and beneficial
Trades carried out on-market
or off-market: N/A
Prescribed clearance given: Yes
Name of director: Alberto Barrenechea
Non-executive director of: Metorex
Name of associate: S.A Sulquisa ("Sulquisa")
Relationship with the director: Mr Barrenechea is a director and indirect
shareholder in Sulquisa
Date of transaction: 8 April 2011
Price per share (being the offer
price in terms of the Offer): R7.35
Number of shares: 12 080 164
Total value: R88 789 205
Class of shares: Ordinary
Extent and interest: Indirect and beneficial
Trades carried out on-market
or off-market: N/A
Prescribed clearance given: Yes
Name of director: Alberto Barrenechea
Non-executive director of: Metorex
Name of associate: Fami Cuatro De Inversiones S.A ("Fami Cuatro")
Relationship with the director: Mr Barrenechea is a director and indirect
shareholder in Fami Cuatro
Date of transaction: 8 April 2011
Price per share (being the offer
price in terms of the Offer): R7.35
Number of shares: 28 442 214
Total value: R209 050 273
Class of shares: Ordinary
Extent and interest: Indirect and beneficial
Trades carried out on-market
or off-market: N/A
Prescribed clearance given: Yes
Nature of transaction:
Each of the aforementioned associates have irrevocably undertaken in favour of
each of the Company and Vale, in their capacity as shareholders of the Company:
- to attend (either in person or by proxy) any meeting of the
shareholders of the Company as contemplated in section 115 of the
Companies Act, No.71 of 2008, as amended, or as convened by the High
Court of South Africa in terms of section 311 of the Companies Act,
No. 61 of 1973, as amended, as the case may be, convened for the
purpose of considering the Offer and to vote (or procure the voting
of) all of the shares held (as referred to above) in favour of any
resolutions proposed to approve and/or implement the Offer; and
- in the event that the Offer proceeds by way of a takeover offer, to
accept the takeover offer in respect of all the shares as referred to
above.
Johannesburg
8 April 2011
Sponsor
One Capital
Date: 08/04/2011 17:39:10 Produced by the JSE SENS Department.
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