| Wed 10 Aug 2011, 16:55 | | UCS - UCS Group Limited - Directors` dealings in securities |
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UCS
UCS
UCS - UCS Group Limited - Directors` dealings in securities
UCS Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1993/002253/06)
JSE code: UCS
ISIN: ZAE000016150
("UCS")
DIRECTORS` DEALINGS IN SECURITIES
Mr JD Bright has, through an entity which he controls, entered into a
transaction with management and certain executive directors of UCS or their
associates ("Management") in terms of which Management will receive further
exposure to the UCS share price through the off-market sale of, inter alia, all
the rights and obligations attached to 3 050 000 UCS shares ("Shares") to
Management ("Transaction").
In terms of the Transaction, Management will acquire the Shares as well as the
entitlement of the Shares to Business Connexion Group Limited ordinary and "A"
ordinary shares ("BCX Shares"), as calculated in accordance with the unbundling
ratio applied per UCS share when UCS unbundled its holding of BCX Shares to UCS
shareholders on 23 May 2011, for a price of R2.00 per UCS ordinary share
("Consideration").
The Consideration will be settled on a deferred purchase payment basis in three
equal instalments payable on 25 August 2011, 2012 and 2013 respectively and is
subject to adjustment in accordance with any liabilities and/or dividends
relating to the Shares and related BCX Shares acquired.
In compliance with paragraph 3.63 of the JSE Limited Listings Requirements
("Listings Requirements"), the relevant dealings by directors of UCS and their
associates in UCS securities, are disclosed below:
Name of director: JD Bright
Name of company of which he is a director: UCS
Class of security: Ordinary shares
Number of securities: 3 050 000
Price of securities: R2.00
Value of transaction: R6 100 000
Nature of transaction: Disposal of an interest in UCS
shares
Nature of director`s interest: Indirect beneficial
Date on which transaction became effective: 8 August 2011
Confirmation of on-market or off-market: Off-market
Name of director: DC Sparrow via The Sparrow Trust of
which he is a beneficiary
Name of company of which he is a director: UCS
Class of security: Ordinary shares
Number of securities: 900 000
Price of securities: R2.00
Value of transaction: R1 800 000
Nature of transaction: Acquisition of an interest in UCS
shares
Nature of director`s interest: Indirect beneficial
Date on which transaction became effective: 8 August 2011
Confirmation of on-market or off-market: Off-market
Name of associate: Mrs P Michelson
Name of director: NA Michelson
Relationship with the director: Director`s wife
Name of company of which he is a director: UCS
Class of security: Ordinary shares
Number of securities: 750 000
Price of securities: R2.00
Value of transaction: R1 500 000
Nature of transaction: Acquisition of an interest in UCS
shares
Nature of director`s interest: Indirect non-beneficial
Date on which transaction became effective: 8 August 2011
Confirmation of on-market or off-market: Off-market
Name of director: JP Fortuin
Name of company of which she is a director: UCS
Class of security: 300 000
Price of securities: R2.00
Value of transaction: R600 000
Nature of transaction: Acquisition of an interest in UCS
shares
Nature of director`s interest: Direct beneficial
Date on which transaction became effective: 8 August 2011
Confirmation of on-market or off-market: Off-market
In compliance with paragraph 3.66 of the Listings Requirements, prior clearance
to deal in the above securities was obtained from the Chairman of the Board. The
above trades were completed outside of a closed period.
Johannesburg
10 August 2011
Sponsor
One Capital
Date: 10/08/2011 16:55:00 Produced by the JSE SENS Department.
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