Glenrand M.I.B - Dealing in securities by directors
Glenrand M.I.B Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/008001/06)
Share Code: GMB ISIN: ZAE000018529
(`Glenrand M.I.B`)
DEALING IN SECURITIES BY DIRECTORS
In compliance with rule 3.63 to 3.74 of the JSE Securities Exchange South Africa
Listing Requirements, the following information relating to the dealing in
securities by two directors is disclosed.
Messrs von Roretz and Mansfield,as referred to below, are shareholders in
Aconcagua 7 Investments (Proprietary) Limited (`Aconcagua`), a company which was
formed by certain Glenrand M.I.B employees in their personal capacity, for the
purpose of acquiring Glenrand M.I.B shares. In terms of the preference share
structure of Aconcagua, one fifth of the preference shares are redeemable on 31
December 2004 (`the first tranche`), one quarter of the remaining balance is
redeemable on 31 December 2005, one third of the remaining balance is redeemable
on 31 December 2006, one half of the remaining balance is redeemable on 31
December 2007 and the full remaining balance is redeemable on 31 December 2008.
Aconcagua has therefore disposed of 50 000 Glenrand M.I.B shares to finance the
redemption of the first tranche. Messrs von Roretz and Mansfield`s shareholdings
in Aconcagua have therefore decreased as a result of this disposal, which has
resulted in a reduction in their holding of Glenrand M.I.B shares as reported
below:
Name: Mr E S G von Roretz
Designation: Chief Operating Officer of Glenrand M.I.B
Date of transaction: 20 December 2004
Nature of transaction: Decrease in shareholding as explained above
Average price: R3.7671
Proportionate number of shares: 6 250 ordinary shares
Total value: R23 544,38
Nature and extent of interest: Indirect beneficial
Written permission obtained: Yes
Name: Mr A W Mansfield
Designation: Chairman of Glenrand M.I.B
Date of transaction: 20 December 2004
Nature of transaction: Decrease in shareholding as explained above
Average price: R3.7671
Proportionate number of shares: 6 250 ordinary shares
Total value: R23 544,38
Nature and extent of interest: Indirect beneficial
Written permission obtained: Yes
Johannesburg
21 December 2004
Sponsor
Nedbank Capital
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