EDGARS CONSOLIDATED STORES LIMITED - DEALING IN SHARES BY A DIRECTOR
EDGARS CONSOLIDATED STORES LIMITED
"Edcon"
(Reg. No. 1946/022751/06)
(Incorporated in the Republic of South Africa)
Share Code: ECO ISIN Code: ZAE000018388
DEALING IN SHARES BY A DIRECTOR
Mr Jon Spotts, Chief Executive: Edgars Chain, has a direct and beneficial right
to acquire 80 000 Edcon ordinary shares in terms of the Compulsorily Convertible
Debenture Scheme. Conversion of these Debentures into Edcon ordinary shares on
a one-for-one basis ("subscription shares") has to take place on 31 March 2004.
For financial planning purposes Mr Spotts sold, on 30 January 2004, to the
Edgars Stores Limited Executive Share Incentive Scheme ("the Trust") the
irrevocable right to 80 000 subscription shares, at 12000 cents each.
Mr Spotts has also sold 110 000 shares over which he had options issued to him
on 10 March 1999 and 14 May 2001, the final tranches of which vested on 10 March
2002 and 22 May 2001 respectively. The details of this transaction are as
follows:
Transaction Date: 30 January 2004
Number of shares: 110 000
Class of security: Ordinary shares of 10 cents each
Average Price per share: 12013 cents
Strike Price: 2730 cents for 30 000 options
Strike Price: 2355 cents for 80 000 options
Extent of Interest: Directly beneficial
In terms of Section 3.66 of the JSE Listings Requirements prior clearance to
deal in the above securities has been obtained from Mr W S MacFarlane, Chairman
of the Board of Edcon and Mr A J Aaron, Chairman of the Remuneration and
Nominations Committee of Edcon.
Johannesburg
30 January 2004
Sponsor
Cazenove South Africa (Pty) Ltd
Date: 30/01/2004 12:24:03 PM Supplied by www.sharenet.co.za
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