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AVI Limited - Dealings in AVI shares by directors and directors of major
subsidiaries
AVI LIMITED
(Registration number 1944/017201/06)
Share Code: AVI
ISIN: ZAE000049433
(`AVI` or `the Company`)
Dealings in AVI shares by directors and directors of major subsidiaries
AVI has been in a prohibited period with respect to directors` dealings since 15
June 2004, when the group entered its closed period for the year ended 30 June
2004. Management of AVI have been finalising the details pertaining to the sale
of Vector Logistics (Pty) Ltd in the period post the release of the 2004 annual
results. This has resulted in the Company`s closed period being extended from
that time until 2 December 2004. AVI will re-enter a closed period on 17
December 2004 until the release of the interim results for the six months ending
31 December 2004. Accordingly, a short window for directors` dealings exists,
and a number of directors have taken advantage of the opportunity to trade, to
fund the acquisition of shares that have vested in terms of the share incentive
schemes and to realign portfolios, as detailed below.
In compliance with rules 3.63 - 3.74 of the Listings Requirements of the JSE
Securities Exchange South Africa (`the JSE`), the following information is
disclosed:
AVI DIRECTORS
Director : Mr Simon Crutchley
Date of transaction : 3 December 2004
Price per share : R23.86
Number of shares : 192,937
Aggregate consideration : R4,603,476.82
Nature of transaction : Sale
Extent of interest : Direct beneficial
Director : Mr Simon Crutchley
Date of transaction : 3 December 2004
Price per share : R23.91
Number of shares : 13,750
Aggregate consideration : R328,762.50
Nature of transaction : Sale
Extent of interest : Direct beneficial
Director : Mr Simon Crutchley
Date of transaction : 3 December 2004
Price per share : R23.90
Number of shares : 16,250
Aggregate consideration : R388,375
Nature of transaction : Sale
Extent of interest : Direct beneficial
Director : Mr Robert Katzen
Date of transaction : 3 December 2004
Price per share : R23.86
Number of shares : 350,000
Aggregate consideration : R8,351,000
Nature of transaction : Sale
Extent of interest : Direct beneficial
Director : Mr Angus Band
Date of transaction : 3 December 2004
Price per share : R23.83
Number of shares : 314,125
Aggregate consideration : R7,485,598.75
Nature of transaction : Sale
Extent of interest : Direct beneficial
Director : Mr Roy Gordon
Date of transaction : 3 December 2004
Price per share : R23.80
Number of shares : 15,000
Aggregate consideration : R357,000
Nature of transaction : Sale
Extent of interest : Direct beneficial
Director : Mr Roy Gordon
Date of transaction : 3 December 2004
Price per share : R23.85
Number of shares : 215,000
Aggregate consideration : R5,127,750
Nature of transaction : Sale
Extent of interest : Direct beneficial
Director : Mr Roy Gordon
Date of transaction : 3 December 2004
Price per share : R23.90
Number of shares : 5,079
Aggregate consideration : R121,388.10
Nature of transaction : Sale
Extent of interest : Direct beneficial
Director : Mr Roy Gordon
Date of transaction : 3 December 2004
Option price : R7.09
Price per share : R23.86
Number of shares : 53,596
Aggregate consideration : R1,278,800.56
Nature of transaction : Exercise of options and sale of shares
Extent of interest : Direct beneficial
DIRECTORS OF MAJOR SUBSIDIARIES
NAME OF SUBSIDIARY : I&J Holding Company (Pty) Ltd
Director : Mr Charles Atkins
Date of transaction : 3 December 2004
Option price : 15,593 at R10.80; 15,593 at R7.09
Price per share : R23.86
Number of shares : 31,186
Aggregate consideration : R744,097.96
Nature of transaction : Exercise of options and sale of shares
Extent of interest : Direct beneficial
NAME OF SUBSIDIARY : Irvin & Johnson Holding Company
(Pty) Ltd (`I&J`)
Director : Mr Trevor Brodrick
Date of transaction : 3 December 2004
Option price : 12,358 at R10.80; 12,358 at R7.09
Price per share : R23.86
Number of shares : 24,716
Aggregate consideration : R589,723.76
Nature of transaction : Exercise of options and sale of shares
Extent of interest : Direct beneficial
NAME OF SUBSIDIARY : I&J
Director : Mr Rodger Williams
Date of transaction : 3 December 2004
Option price : R4.05
Price per share : R23.86
Number of shares : 23,642
Aggregate consideration : R564,098.12
Nature of transaction : Exercise of options and sale of shares
Extent of interest : Direct beneficial
NAME OF SUBSIDIARY : I&J
Secretary : Mr Chris Schoeman
Date of transaction : 3 December 2004
Option price : 9,441 at R10.80; 9,441 at R7.09
Price per share : R23.86
Number of shares : 18,882
Aggregate consideration : R450,524.52
Nature of transaction : Exercise of options and sale of shares
Extent of interest : Direct beneficial
NAME OF SUBSIDIARY : I&J
Director : Mr Giles Scott
Date of transaction : 3 December 2004
Option price : 22,437 at R4.05; 5,609 at R11.60
Price per share : R23.86
Number of shares : 28,046 ordinary shares of 5 cents
Aggregate consideration : R669,177.56
Nature of transaction : Exercise of options and sale of shares
Extent of interest : Direct beneficial
NAME OF SUBSIDIARY : Consol Limited
Director : Mr Michael Arnold
Date of transaction : 3 December 2004
Option price : R13.00
Price per share : R23.86
Number of shares : 28,881
Aggregate consideration : R669,100.66
Nature of transaction : Exercise of options and sale of shares
Extent of interest : Direct beneficial
NAME OF SUBSIDIARY : Consol Limited
Director : Mr Brian Rodger
Date of transaction : 3 December 2004
Option price : R7.09
Price per share : R23.86
Number of shares : 12,097 ordinary shares of 5 cents
Aggregate consideration : R288,634.42
Nature of transaction : Exercise of options and sale of shares
Extent of interest : Direct beneficial
Delivery of and payment for the shares has been completed in terms of The
Anglovaal Industries Limited Share Incentive Scheme.
Clearance to deal in these shares was obtained in accordance with AVI`s policy
with regard to directors` dealings as well as the Listings Requirements of the
JSE.
Chislehurston
Sandton
7 December 2004
Sponsor
Standard Bank
Date: 07/12/2004 10:17:09 AM
Produced by the JSE SENS Department
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