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GPL
GPL
GPL - Grand Parade Investments Limited - Swap of the GPI SPV Trust and The GPI
BBBEE Trust Units for GPI Ordinary Shares on A 1:1 Basis
GRAND PARADE INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1997/003548/06)
Share code: GPL
ISIN: ZAE000119814
("GPI" or "the company")
SWAP OF THE GPI SPV TRUST AND THE GPI BBBEE TRUST UNITS FOR GPI ORDINARY SHARES
ON A 1:1 BASIS
Following the release of the lock-in restrictions, the GPI SPV Trust and the GPI
BBBEE Trust were unwound on 31 January 2012 and shareholders (which also
includes the directors set out below), who held units in the aforementioned
trusts, became entitled to swap their BBBEE units for GPI ordinary shares on a
1:1 basis. The directors had no discretion in the transaction and were not
trustees of the aforementioned two trusts. The swap of the units for GPI
ordinary shares is therefore strictly speaking not a dealing by the directors,
but given the JSE Listings Requirements, same is required to be announced.
In compliance with rules 3.63 to 3.74 of the JSE Limited`s Listings
Requirements, the following information is disclosed:
NAME OF DIRECTOR Hassen Adams
COMPANY OF WHICH I AM A Grand Parade Investments Limited
DIRECTOR
STATUS: EXECUTIVE/NON- Executive
EXECUTIVE
TYPE OF SECURITIES GPI SPV and BBBEE Trust units
EFFECTIVE DATE OF UNWINDING 31 January 2012
DATE OF ISSUE OF GPI 24 February 2012
ORDINARY SHARES IN LIEU OF
UNITS
NUMBER OF BBBEE UNITS 3 883 826 (1)
ENTITLED TO SWAP FOR GPI 409 119 (2)
ORDINARY SHARES
TOTAL DEEMED RAND VALUE OF R9 126 991.10 (1)
SECURITIES R961 429.65 (2)
The deemed rand value is based on
the closing market price of GPI
shares on 24 February 2012 (235
cents per share)
NATURE OF TRANSACTION Following the release of a lock-in
restrictions, the trustees of the
GPI SPV Trust and the trustees of
the GPI BBBEE Trust have exercised
the powers granted to them by the
trust deeds and resolved to redeem
all units. The effect of which is
that the units currently owned
directly and indirectly by the
director will automatically be
converted into GPI ordinary shares
on a 1:1 basis.
(Off-market transaction)
NAME OF ASSOCIATE Quintessence Opportunities (Pty)
Ltd (1)
Midnight Storm Investments 387
(Pty) Ltd (2)
RELATIONSHIP WITH DIRECTOR Director and 44% shareholder of the
Associate (1)
Director and 39% shareholder of the
Associate (2)
NATURE AND EXTENT OF Indirect beneficial (1)&(2)
INTEREST IN THE TRANSACTION
CLEARANCE OBTAINED Yes
NAME OF DIRECTOR Ralph Freese
COMPANY OF WHICH I AM A Grand Parade Investments Limited
DIRECTOR
STATUS: EXECUTIVE/NON- Non-Executive
EXECUTIVE
TYPE OF SECURITIES GPI BBBEE Trust units
EFFECTIVE DATE OF UNWINDING 31 January 2012
DATE OF ISSUE OF GPI 24 February 2012
ORDINARY SHARES IN LIEU OF
UNITS
NUMBER OF BBBEE UNITS 136 844 (1)
ENTITLED TO SWAP FOR GPI 106 500 (2)
ORDINARY SHARES
TOTAL DEEMED RAND VALUE OF R321 583.40 (1)
SECURITIES R250 275.00 (2)
The deemed rand value is based on
the closing market price of GPI
shares on 24 February 2012 (235
cents per share)
NATURE OF TRANSACTION Following the release of a lock-in
restrictions, the trustees of the
GPI BBBEE Trust have exercised the
powers granted to them by the trust
deed and resolved to redeem all
units. The effect of which is that
the units currently owned directly
or indirectly by the director will
automatically be converted into GPI
ordinary shares on a 1:1 basis.
(Off-market transaction)
NATURE AND EXTENT OF Direct beneficial (1)
INTEREST IN THE TRANSACTION Indirect beneficial (2)
NAME OF ASSOCIATE Mantis Projects (Pty) Ltd (2)
RELATIONSHIP WITH DIRECTOR Director and 100% shareholder of
the associate
CLEARANCE OBTAINED Yes
NAME OF DIRECTOR Faldi Samaai
COMPANY OF WHICH I AM A Grand Parade Investments Limited
DIRECTOR
STATUS: EXECUTIVE/NON- Non Executive
EXECUTIVE
TYPE OF SECURITIES GPI BBBEE Trust units
EFFECTIVE DATE OF UNWINDING 31 January 2012
DATE OF ISSUE OF GPI 24 February 2012
ORDINARY SHARES IN LIEU OF
UNITS
NUMBER OF BBBEE UNITS 3 883 826
ENTITLED TO SWAP FOR GPI
ORDINARY SHARES
TOTAL DEEMED RAND VALUE OF R9 126 991.10
SECURITIES The deemed rand value is based on
the closing market price of GPI
shares on 24 February 2012 (235
cents per share)
NATURE OF TRANSACTION Following the release of a lock-in
restrictions, the trustees of the
GPI BBBEE trust have exercised the
powers granted to them by the trust
deeds and resolved to redeem all
units. The effect of which is that
the units currently owned
indirectly by the director will
automatically be converted into GPI
ordinary shares on a 1:1 basis.
(Off-market transaction)
NATURE AND EXTENT OF Indirect beneficial
INTEREST IN THE TRANSACTION
NAME OF ASSOCIATE Quintessence opportunities (Pty)
Ltd
RELATIONSHIP WITH DIRECTOR 1.13% Shareholder of the associate
CLEARANCE OBTAINED Yes
NAME OF DIRECTOR Anthony Bedford
COMPANY OF WHICH I AM A Grand Parade Investments Limited
DIRECTOR
STATUS: EXECUTIVE/NON- Non-Executive
EXECUTIVE
TYPE OF SECURITIES GPI BBBEE Trust units
EFFECTIVE DATE OF UNWINDING 31 January 2012
DATE OF ISSUE OF GPI 24 February 2012
ORDINARY SHARES IN LIEU OF
UNITS
NUMBER OF BBBEE UNITS 135 352 (1)
ENTITLED TO SWAP FOR GPI 1 658 009 (2)
ORDINARY SHARES
TOTAL DEEMED RAND VALUE OF R318 077.20 (1)
SECURITIES R3 896 321.15 (2)
The deemed rand value is based on
the closing market price of GPI
shares on 24 February 2012 (235
cents per share)
NATURE OF TRANSACTION Following the release of a lock-in
restrictions, the trustees of the
GPI BBBEE trust have exercised the
powers granted to them by the trust
deed and resolved to redeem all
units. The effect of which is that
the units currently owned directly
and indirectly by the director will
automatically be converted into GPI
ordinary shares on a 1:1 basis.
(Off-market transaction)
NAME OF ASSOCIATE Prosperity Through Partnership
Limited
RELATIONSHIP WITH DIRECTOR Director and 32% shareholder of the
associate
CLEARANCE OBTAINED Yes
28 February 2012
Sponsor
PSG Capital (Pty) Limited
Date: 28/02/2012 17:42:01 Produced by the JSE SENS Department.
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