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Discovery - Correction To Dealing In Securities And Donation By Director
Announcement Released On Sens On 1 December 2004
DISCOVERY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1999/007789/06)
ISIN: ZAE000022331
Share Code: DSY
Correction To Dealing In Securities And Donation By Director Announcement
Released On Sens On 1 December 2004
In compliance with rules 3.63 - 3.74 of the JSE Listings Requirements, the
following information is disclosed in respect of Adrian Gore, a director of
Discovery Holdings Limited:
Class of security : Ordinary Shares
Nature of transaction : Sale
Date of transaction : 30 November 2004
Clearance obtained : Yes
Number of shares : 1 998 611
Selling price : 1650 cents per share
Total value of transaction : R32 977 081.50
Nature and extent of
Director`s interest : Indirect Non-Beneficial
Number of shares : 975 000
Selling price : 1756 cents per share
Total value of transaction : R17 121 000.00
Nature and extent of
Director`s interest : Indirect Non-Beneficial
Number of shares : 1 025 000Selling price : 1756
cents per share
Total value of transaction : R17 999 000.00 (amount corrected)
Nature and extent of
Director`s interest : Direct Beneficial
Mr. Adrian Gore, Chief Executive Officer held 51 186 823 ordinary shares. 13 520
651 of these were acquired through Discovery`s capital raising exercise in 2003,
funded by personal debt.
In order for Mr. Gore to restructure his personal debt and settle the interest
to date and prior to the company entering into a closed period with respect to
its results for the half year ended 31 December 2004, Mr. Gore has sold 3 998
611 shares to FirstRand Limited, the major shareholder of Discovery, in terms of
existing reciprocal pre-emptive rights held by FirstRand Limited in terms of a
shareholders` agreement.
In a separate transaction, Mr. Gore has also donated 256 412 ordinary shares
from his personal holdings to certain individuals.
The above transactions constitute approximately 8.31% of Mr. Gore`s holdings. He
remains the holder of 46 931 800 ordinary shares.
Shareholders are referred to the announcement published by FirstRand on 1
December 2004 relating to the acquisition of additional Discovery shares.
Sandton
6 December 2004
Merchant Bank and Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
Date: 06/12/2004 09:58:05 AM
Produced by the JSE SENS Department
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