Prism - Purchases Of Shares By Prism`s Share Incentive Scheme
PRISM HOLDINGS LIMITED
Registration number : 1998/018949/06
Share code : PIM
ISIN : ZAE000022257
(`Prism`)
VOLUNTARY ANNOUNCEMENT REGARDING PURCHASES OF SHARES BY PRISM`S SHARE INCENTIVE
SCHEME (`STAFF TRUST`)
1. INTRODUCTION
The requirement to consolidate share incentive schemes may result in material
impacts upon the earnings and headline earnings per share of listed companies as
a result of material purchases of shares by share incentive schemes.
Accordingly, Prism announces that the Staff Trust has purchased 38 661 416 Prism
ordinary shares, representing 6.5% of Prism`s total issued ordinary shares.
These shares were acquired to cover outstanding options granted to staff of
Prism in accordance with the rules of the Staff Trust.
2. DETAILS OF THE PURCHASES BY THE SHARE TRUST
Details of the purchases by the Share Trust are as follows:-
- Number of ordinary shares repurchased 38 661 417
- Value of ordinary shares repurchased R12.4 million
- Highest price paid per ordinary share 33 cents
- Lowest price paid per ordinary share 28 cents
- Average price paid per ordinary share 32 cents
3. FINANCIAL EFFECTS OF THE PURCHASES BY THE SHARE TRUST
The pro forma financial effects of the purchases by the Share Trust upon Prism
are as set out below.
Before After Note %
(note 1) Change
Headline earnings per share (cents) 4.6 4.9 (2) +6.5
Earnings per share (cents) 4.1 4.3 (2) +4.9
Diluted earnings per share (cents) 3.8 3.9 (2) +2.6
Diluted headline earnings per share (cents) 4.3 4.4 (2) +2.3
Net asset value per share (cents) 20 19 (3) -5.0
Note 1: The headline earnings, earnings and net asset value per share
before the purchases by the Share Trust are as announced in
Prism`s results for the year ended 30 June 2004.
Note 2: The effects on headline earnings and earnings per share are
calculated based on the assumption that the purchases by
the Share Trust as set out in paragraph 2 above were carried
out on 1 July 2003, using cash that yielded a 7% return
before tax.
Note 3: The effects on net asset value per share are calculated based
on the assumption that the purchases by the Share Trust as
set out in paragraph 2 above were carried out on
30 June 2004.
Fourways
10 September 2004
Sponsor
Standard Bank
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