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MMI
MMI
MMI - MMI Holdings Limited - Dealings in securities by a director
MMI HOLDINGS LIMITED
Incorporated in the Republic of South Africa)
(Registration number: 2000/031756/06
ISIN Code: ZAE000149902
Share Code: (JSE): MMI
Share Code: (NSX): MIM
DEALINGS IN SECURITIES BY A DIRECTOR
In compliance with the JSE Limited Listings Requirements, the following
information is disclosed:
Director: Sizwe Errol Nxasana
Company: MMI Holdings Limited
Date of transaction: 15 April 2011
Nature of transaction: Off market delivery of MMI Holdings
ordinary shares accrued in terms of an
option over FirstRand ordinary shares
granted by the FirstRand Share Trust,
following the Momentum unbundling and
distribution of MMI Holdings shares to
FirstRand shareholders
Class of securities: Exercise of FirstRand options and delivery
of MMI Holdings ordinary shares
Number of FirstRand options 2 000 000
exercised:
Number of MMI ordinary shares 337 532
delivered
Value of transaction: R5 676 073.12
Date of transaction: 15 April 2011
Nature of transaction: On market sale of shares
Class of securities: Ordinary shares
Number of shares sold: 337 532
Selling price: 1 681,64 cps
Value of transaction: R5 676 073.12
Date of transaction: 15 April 2011
Nature of transaction: Off market purchase
Class of securities: Ordinary shares
Number of shares purchased: 485 658
Purchase price: 1690 cps
Value of transaction: R8 207 613
Nature of interest: Direct beneficial
Clearance obtained: Yes
The FirstRand Share Trust issued an option over FirstRand ordinary shares to Mr
Nxasana. The option had reached final compulsory take-up date and Mr Nxasana
was required to exercise and take delivery of the underlying FirstRand ordinary
shares. Following the acquisition of Momentum Group by MMI Holdings ("the
Momentum lift-out"), a distribution of MMI Holdings shares was made to FirstRand
Ordinary shareholders. In two separate transactions Mr Nxasana sold MMI
Holdings ordinary shares and bought MMI Holdings ordinary shares. He sold the
shares that had accrued when he exercised the option issued by the FirstRand
Share Trust over the FirstRand ordinary shares. He applied part of the proceeds
to increase his participation in FirstRand ordinary shares in the private
transaction between the FirstRand and RMBH Founders and a group of FirstRand
executives (which was announced on SENS on 7 February 2011) and flowing
therefrom as a consequence of the Momentum lift-out has taken delivery of 485
658 MMI Holdings ordinary shares, which are subject to conditions of the
aforementioned transaction.
Place Cape Town
19 April 2011
Sponsor
Merrill Lynch South Africa (Pty) Ltd
Date: 19/04/2011 11:32:23 Produced by the JSE SENS Department.
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