Spur Corporation Limited - Press Release
Spur Corporation Limited
SHARE CODE: SUR
ISIN CODE : ZAE000022653
Spur staff retain a healthy stake
Spurcorp executive chairman Allen Ambor has purchased five million shares from
Spur directors, management and staff.
The shares were part of a share block owned for the past five years under the
Spur Incentive Scheme. All staff levels, from the chairman to junior employees,
were part of the scheme, which proscribed the sale of the shares for five years.
Ambor said that when Spur launched the scheme, management purchased 13,1-million
shares, while a further 1,1 million share options were issued to staff.
11,1-million management and staff shares can now be sold, but management and
staff have kept 6,1-million shares. Financial director Dean Hyde said keeping
such a large share tranche fully reflects the confidence that staff have in the
future prospects of the company.
Apart from the 6.1 million shares retained, a further two million shares will
become eligible for sale in mid-2006.
Cape Town
28 June 2004
Date: 28/06/2004 02:43:01 PM
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