| Tue 2 Aug 2011, 17:48 | | IVT - Invicta Holdings Limited - Take-Up of the loan balance and further shares |
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IVT
IVT
IVT - Invicta Holdings Limited - Take-Up of the loan balance and further shares
by executive director
Invicta Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/002182/06
Share code: IVT ISIN code: ZAE000029773
("Invicta" or "the Company" or "the Group")
TAKE-UP OF THE LOAN BALANCE AND FURTHER SHARES BY EXECUTIVE DIRECTOR
Shareholders are referred to a terms announcement released on SENS on 5 July
2011 and in the press on 6 July 2011 ("terms announcement"), where they were
advised that Invicta and Humulani Marketing (Proprietary) Limited ("Humulani
Marketing") have established a long term loan scheme for Invicta executive
directors ("executives"), in terms of which Humulani Marketing have signed loan
agreements with the executives on 30 June 2011, of which a portion of the loans
were taken up by the executives to acquire shares in Invicta. The balance of
the loans have to be taken up within 90 days of 30 June 2011, through a specific
issue of Invicta shares for cash using treasury shares or the participant
acquiring Invicta shares on the open market.
As advised in the terms announcement, Humulani Marketing and Mr CE Walters
entered into a loan agreement on 30 June 2011 in terms of which Humulani
Marketing has granted Mr. CE Walters a loan of R25,800,000 ("loan"). The loan
taken up by Mr. CE Walters on 30 June 2011 was only R15,000,000. Shareholders
are advised that Mr. CE Walters has taken up the balance of the loan amounting
to R10,800,000 on 22 July 2011.
As a result of the above, Mr CE Walters has been issued with a further 247,934
Invicta shares, held as treasury shares, on 22 July 2011 at R43.56, which is
equal to the volume weighted average price per share for the 30 trading days up
to 21 July 2011.
The pro forma financial effects of this issue and the loan on the financial
results of Invicta for the year ended 31 March 2011 are not significant.
The granting of the loan and the specific authority to issue shares are still
subject to approval by Invicta shareholders in general meeting, details of which
are set out in a circular posted to shareholders on 1 August 2011.
Cape Town
2 August 2011
Sponsor
Deloitte & Touche Sponsor Services (Proprietary) Limited
Attorneys
Bernadt Vukic Potash & Getz
Date: 02/08/2011 17:48:00 Produced by the JSE SENS Department.
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