Datatec Limited - Dealings In Securities By Direct
In compliance with the rule 3.72 to 3.75 of the Listing Requirements, the
following information is disclosed:
Director : Jens Montanana
Date of Transaction : 28 March 2001
Class of Security : Ordinary shares
Nature of Transaction : Sale
Number of shares and selling price : 1 445 000 @ R107.00
Nature of director's interest : Indirect and beneficial
Comment
Exercise of Put Option by Jens Montanana
Two years ago, Jens Montanana and Origin, a division of FirstRand Bank Limited,
entered into a structured finance transaction, comprising debt capital and
accrued interest. A put option arranged by Origin, relating to 1 445 000
Datatec shares held through the investment vehicle B.V.I. 201 (Pty) Limited,
formed part of this transaction and was due to expire today, 28 March 2001. Mr
Montanana has therefore exercised the put, reducing his indirect beneficial
holdings by the sale of 1 445 000 shares.
Mr Montanana stated that it obviously made sense for his personal financial
planning to cause the option to be exercised at this time and to continue with
his already publicised buying of Datatec shares through the market to again
increase his holding.
- end -
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
