PRISM HOLDINGS LIMITED
(Registration number 1998/018949/06)
Share code: PIM
ISIN code: ZA000022257
Matter of Record for the Directors Dealings
The above executive management members entered into a structured equity
transaction to the value of R10 million ("the agreement") in order to allow them
to participate in a rights offer ("the concluded rights offer") undertaken by
Prism Holdings Limited ("Prism") during March 2002. The agreement was secured by
32 898 400 Prism ordinary shares held by them ("the security shares").
A decrease in the Prism share price, since the concluded rights offer, has
necessitated in terms of the agreement the sale of the security shares.
Consequently, the security shares have been sold to The Archway Technology
Venture Capital Fund ("Archway") and Horizon Equity Partners (Proprietary)
Limited ("Horizon").
Archway and Horizon, private equity investors in technology companies, are also
joint underwriters to the rights offer currently in progress. Archway is a
current 8.4% shareholder in Prism.
The purchase of the security shares by Archway and Horizon has removed a
potential overhang of shares in the market and introduced long-term
institutional investors as shareholders of Prism.
The executive management members remain committed to Prism and are appropriately
incentivised.
Date: 30/01/2003 01:45:00 PM Produced by the JSE SENS Department
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