|
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:
1.
NAME OF DIRECTOR Alexander Abercrombie
COMPANY OF WHICH I AM A Grand Parade Investments Limited
DIRECTOR
STATUS: EXECUTIVE/NON- Non-executive
EXECUTIVE
TYPE OF SECURITIES BBBEE Trust units
EFFECTIVE DATE OF UNWINDING 31 January 2012
DATE OF ISSUE OF GPI 12 March 2012
ORDINARY SHARES IN LIEU OF
UNITS
NUMBER OF BBBEE UNITS 558 444(1)
ENTITLED TO SWAP FOR GPI 100 069(2)
ORDINARY SHARES
TOTAL DEEMED RAND VALUE OF R1,396,110(1)
SECURITIES R250,172.50(2)
The deemed rand value is based on the
closing market price of GPI shares on 12
March 2012 (250 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 J M Abercrombie(2)
RELATIONSHIP WITH DIRECTOR Spouse(2)
NATURE AND EXTENT OF Direct beneficial (1)
INTEREST IN THE TRANSACTION Indirect beneficial (2)
CLEARANCE OBTAINED Yes
2.
NAME OF DIRECTOR Nombeko Mlambo
COMPANY OF WHICH I AM A Grand Parade Investments Limited
DIRECTOR
STATUS: EXECUTIVE/NON- Non-executive
EXECUTIVE
TYPE OF SECURITIES BBBEE Trust units
EFFECTIVE DATE OF UNWINDING 31 January 2012
DATE OF ISSUE OF GPI 12 March 2012
ORDINARY SHARES IN LIEU OF
UNITS
NUMBER OF BBBEE UNITS 9 524(1)
ENTITLED TO SWAP FOR GPI 1 236 571(2)
ORDINARY SHARES
TOTAL DEEMED RAND VALUE OF R23,810(1)
SECURITIES R3,091,427.50(2)
The deemed rand value is based on the
closing market price of GPI shares on 12
March 2012 (250 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 Western Cape Womens Investment Forum(2)
RELATIONSHIP WITH DIRECTOR Director and 8.35% shareholder (2)
NATURE AND EXTENT OF Direct beneficial (1)
INTEREST IN THE TRANSACTION Indirect beneficial (2)
CLEARANCE OBTAINED Yes
14 March 2012
Sponsor
PSG Capital (Pty) Limited
Date: 14/03/2012 16:15:36 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
