| Mon 1 Oct 2012, 16:33 | | FIRSTRAND LIMITED - Dealings In Securities By a Director |
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FSR 201210010061A
Dealings In Securities By a Director
FirstRand Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1966/010753/06)
ISIN: ZAE 000066304
Share Code: (JSE): FSR
Share Code: (NSX): FST
(?FSR?)
DEALINGS IN SECURITIES BY A DIRECTOR
In compliance with the JSE Limited Listings Requirements, the
following information is disclosed:
Director : Sizwe Errol Nxasana
Company : FirstRand Limited
Date of transaction : 27 September 2012
Nature of transaction : Off market settlement of
conditional share (?CSP?) award,
in cash
Class of securities : CSP in respect of ordinary shares
Number of CSP?s constituting : 253 376
original award
Number of CSP?s delivered : 302 213
Price of original award : R20.4439
Award date : 14 September 2010
Vesting date : 13 September 2012
Period of vesting : 24 months ? in full
Value of original award : R5 179 993
Value of settlement : R8 035 843
Directors? interest : Direct beneficial
Clearance obtained : Yes
40% of Mr Nxasana?s variable pay award in 2010 was deferred in
CSP?s, totalling 253 376.
The total award delivered, 302 213 CSP?s, is made up as follows:
Original award on 14 September 2010 253 376
Additional award made on 13 December 2010, following the 38 589
unbundling of FSR?s interest in Metropolitan Holdings
Limited ("MMI") to ordinary shareholders (acquired as a
consequence of the Momentum Group Limited and MMI merger,
which was settled by means of an exchange of ordinary
shares) ("the Momentum/MMI Merger").
Additional award made on 8 October 2011 following the 10 248
declaration of the special dividend on 12 September 2011.
The restriction on the CSP was lifted on 14 September 2012. On 27
September 2012, Mr Nxasana elected settlement in cash, which will
be based on the closing price of FSR ordinary shares on 13
September 2012, R26,59.
The cash proceeds will be utilised by Mr Nxasana, in part, to
settle the tax liability incurred on the dealings reported in this
notice.
Date of transactions : 27 September 2012
Nature of transactions : Off market settlement of
forfeitable share (?FSP?) award
and subsequent on market sale of
the securities which constituted
the award
Class of securities : Ordinary shares
Selling price R27.5259
Number of FSP?s constituting : 642 405
the original award and
securities sold
Price of original award : R15.80
Award date : 16 September 2009
Vesting date : 15 September 2012
Period of vesting : 36 months ? in full
Value of original award : R10 149 999
Total value of transaction : R17 682 775
Directors? interest : Direct beneficial
Clearance obtained : Yes
The restriction on the FSP was lifted on 17 September 2012. On 27
September 2012 Mr Nxasana elected to take delivery of the ordinary
shares that constituted the award and has sold them in the market.
The cash proceeds will be utilised by Mr Nxasana, in part, to
settle the tax liability incurred on the dealings reported in this
notice.
Date of transaction : 27 September 2012
Nature of transaction : Off market settlement of
conditional share (?CSP?) award,
partly in cash, partly by
delivery of shares
Class of securities : CSP in respect of ordinary
shares
Number of CSP?s constituting : 600 000
original award
Number of CSP?s delivered : 715 647
Price of original award : R19.15
Award date : 17 September 2009
Vesting date : 17 September 2012
Period of vesting : 36 months ? in full
Value of original award : R11 490 000
Value of settlement : R18 248 998
Directors? interest : Direct beneficial
Clearance obtained : Yes
The restriction on the CSP was lifted on 17 September 2012. On 27
September 2012 Mr Nxasana elected to be settled in cash for part
of and take delivery of shares for his remaining entitlement.
The original award made on 17 September 2009 was 600 000 CSP?s.
The total award delivered, 715 647 CSP?s, is made up as follows:
Original award on 17 September 2009 600 000
Additional award made on 13 December 2010, following the 91 380
Momentum/MMI merger and the unbundling of FSR?s interest
in MMI to ordinary shareholders
Additional award made on 8 October 2011 following the 24 267
declaration of the special dividend on 12 September 2011
Settlement will be effected as follows based on the closing price
of FSR ordinary shares on 17 September 2012, R25,50 :
Settlement in cash based on 79 794 shares R2 034
747
Delivery of 635 853 shares R16 214
251
The cash proceeds will be utilised by Mr Nxasana, in part, to
settle the tax liability incurred on the dealings reported in this
notice.
Sandton
1 October 2012
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
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