Mercantile - Dealing in securities by a director
Mercantile Lisbon Bank Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1989/000164/06)
Share code: MTL ISIN: ZAE000056537
(`Mercantile`)
Dealing in securities by a director
Shareholders are referred to paragraph 5.1.7 of the circular to Mercantile
shareholders, dated 16 August 2004, relating to a rights offer. Shareholders
were notified that an agreement had been reached to award five million options
to the Chief executive Officer of Mercantile, Mr DJ Brown, at an exercise price
equal to the ruling price of Mercantile shares on the JSE Securities Exchange
South Africa (`the JSE`) 31 days after the conclusion of the rights offer on
Friday, 3 September 2004, being Monday, 4 October 2004.
In compliance with paragraph 3.63 to 3.74 of the JSE Securities Exchange South
Africa Listing Requirements, the following information is disclosed:
Director : Mr DJ Brown
Nature of transaction : Grant and acceptance of options
Date of transaction : 5 October 2004
Price per share : 18 cents
Number of shares : 5 000 000
Total value : R 900 000
Class of securities : Ordinary shares of 1 cent each
Period of exercise : 33% after the expiration of 2 years
from 5 October 2004; a further 33%
after the expiration of 3 years from 5
October 2004; the remaining options
(34%) after the expiration of 4 years
from 5 October 2004
Nature of interest : Direct beneficial
Clearance to deal : Clearance to deal was given
7 October 2004
Johannesburg
Sponsor: Bridge Capital Services (Pty) Limited
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