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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 director,
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 Faldi Samaai
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 30 March 2012
ORDINARY SHARES IN LIEU OF
UNITS
NUMBER OF BBBEE UNITS 23 112(1)
ENTITLED TO SWAP FOR GPI
ORDINARY SHARES
TOTAL DEEMED RAND VALUE OF R58 935.60(1)
SECURITIES The deemed rand value is based on the closing
market price of GPI shares on 30 March 2012
(255 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 The Kilshaw Samaai Family Trust(1)
RELATIONSHIP WITH DIRECTOR Trustee(1)
NATURE AND EXTENT OF Indirect beneficial (1)
INTEREST IN THE TRANSACTION
CLEARANCE OBTAINED Yes
03 April 2012
Sponsor
PSG Capital (Pty) Limited
Date: 03/04/2012 16:31:28 Produced by the JSE SENS Department.
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