INVESTMENT SOLUTIONS HOLDINGS LIMITED
Reg No 1997/022540/06
JSE code : SLU
ISIN : ZAE 000019279
To improve the liquidity in the trade of Investment Solutions Holdings
Limited ("Investment Solutions") shares and to assist Investment Solutions
to meet the JSE Securities Exchange South Africa's (JSE) revised listing
requirement of a minimum of 20% public shareholders, a number of minority
shareholders of the company have made a proportion of their holdings
available to the market.
In total 12-million Investment Solutions shares have been made available to
the market at a price of 440 cents a share and the shares were taken up by
six financial institutions.
In terms of the transaction certain directors of Investment Solutions have
sold shares. The details are:
Director : W Kerrigan
Date : 15 November 2001
No of shares : 3 000 000
Class : Ordinary shares
Price : R 4,40
Nature : Sale
Extent of interest : Indirect, non-beneficial
Director : L D Lewis
Date : 15 November 2001
No of shares : 3 000 000
Class : Ordinary shares
Price : R 4,40
Nature : Sale
Extent of interest : Indirect, non-beneficial
Director : R I Gordon
Date : 15 November 2001
No of shares : 2 000 000
Class : Ordinary shares
Price : R 4,40
Nature : Sale
Extent of interest : Indirect, non-beneficial
Subsequent to the placement Mr Lewis will hold over 15-million shares in
Investment Solutions, Mr Kerrigan over 14-million shares and Mr Gordon over
10-million shares.
Alexander Forbes Limited, which holds 59% of Investment Solutions shares and
had a pre-emptive right over these shares, waived its pre-emptive right over
the 12-million shares made available by the minorities in order to
facilitate Investment Solutions' improved liquidity.
At the release of its interim results recently, Investment Solutions
indicated that it was planning to increase the public shareholding in the
company and that it would continue to satisfy demand for its shares from the
original minority shareholders in the company. The placement of the 12-
million shares forms part of this programme.
ends
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