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Beige - Announcement
Beige Holdings Limited ("Beige")
(Incorporated in the Republic of South Africa)
Registration number - 1991/006871/06
Share code: BEG ISIN: ZAE 000034161
With reference to the circular to shareholders dated 13 August 2002, Arcay Group
Limited ("Arcay") was granted an option to convert its loan, advanced to Beige
of R1 500 000, into 20 000 000 Beige shares at 7.5 cents per share. Arcay has
exercised its option on 2 July 2003 to acquire the above shares, subject to
shareholders approving an amendment to the wording of the resolution previously
approving the conversion option. Of the 20 000 000 shares acquired by Arcay,
15 000 000 Beige shares have been placed with institutions as well as management
and associates of Beige at 11 cents per share. The decision to place the shares
is due to Arcay"s remaining funding requirements, following the bridging funding
secured last year in relation to the previous debentureholder settlement.
Shareholders are advised that it is not Arcay"s intention to dispose of any
further Beige shares following this transaction.
The above transactions will have an effect on directors" interest and, in
compliance with paragraphs 3.72 to 3.75 of the Listings Requirements of the JSE
Securities Exchange South Africa, the following information is disclosed on the
basis of the higher number of shares that will be in issue:
Name of director: KDD de Villiers
Number of shares: 20 000 000
Class of securities: Ordinary shares
Nature of transaction: Buy
Price per share: 7.5 cents
Extent of change in
director"s interest: Indirect non-beneficial (1.62%)
Name of director: KDD de Villiers
Number of shares: 15 000 000
Class of securities: Ordinary shares
Nature of transaction: Sell
Price per share: 11 cents
Extent of change in
director"s interest: Indirect non-beneficial (1.22%)
Name of director: MM Di Nicola
Number of shares: 500 000
Class of securities: Ordinary shares
Nature of transaction: Buy
Price per share: 11 cents
Extent of change in
director"s interest: Indirect non-beneficial (0,18%)
Johannesburg
02 July 2003
Company Secretary
Arcay Client Support (Pty) Ltd
(Registration number 1998/025284/07)
Date: 03/07/2003 08:16:06 AM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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