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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 director 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 director had no discretion in the
transaction and was not a trustee 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 29 February 2012
ORDINARY SHARES IN LIEU OF
UNITS
NUMBER OF BBBEE UNITS 126 066 (1)
ENTITLED TO SWAP FOR GPI 2 892 575 (2)
ORDINARY SHARES 2 000 000 (3)
TOTAL DEEMED RAND VALUE OF R298 776.42(1)
SECURITIES R6 855 402.75(2)
R4 740 000.00(3)
The deemed rand value is based on
the closing market price of GPI
shares on 29 February 2012 (237
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 Nadesons Investments (Pty) Ltd
(2)
Rowmoor Investments 679 (Pty) Ltd
(3)
RELATIONSHIP WITH DIRECTOR Director and 78% shareholder of the
Associate (2)
Director and 63% shareholder of the
Associate (3)
NATURE AND EXTENT OF Direct beneficial (1)
INTEREST IN THE TRANSACTION Indirect beneficial (2)&(3)
CLEARANCE OBTAINED Yes
02 March 2012
Sponsor
PSG Capital (Pty) Limited
Date: 02/03/2012 16:16:01 Produced by the JSE SENS Department.
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