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ISPAT ISCOR LIMITED - DIRECTORS`DEALINGS IN ISPAT ISCOR SECURITIES
Ispat Iscor Limited
(Formerly Iscor Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1989/002164/06)
(Share code: IIS)
(ISIN: ZAE000057162)
(`Ispat Iscor`)
Directors`dealings in Ispat Iscor securities
In compliance with paragraph 3.63 to 3.74 of the Listings Requirements of the
JSE Securities Exchange, South Africa, we hereby advise the following dealings
by directors of Ispat Iscor in Ispat Iscor securities:
Name of director Vaidya Sethuraman
Category Executive director
Name of company Ispat Iscor Limited
Date of transaction 22 July 2004
Number of securities 140 070
Price of securities R37.25
Total value of securities R5,217,607-50
Class of securities Options on ordinary shares
Nature of transaction Offer of options
Interest (i.e. direct/indirect etc) Indirect beneficial
Clearance to trade received Yes, on release of the securities in
terms of the rules of the management
share incentive scheme
Name of director Juba Mashaba
Category Executive director
Name of company Ispat Iscor Limited
Date of transaction 22 July 2004
Number of securities 140 070
Price of securities R37.25
Total value of securities R5,217,607-50
Class of securities Options on ordinary shares
Nature of transaction Offer of options
Interest (i.e. direct/indirect etc) Indirect beneficial
Clearance to trade received Yes, on release of the securities in
terms of the rules of the management
share incentive scheme
The offer of options to the directors above was an integral part of their offer
of employment letters dated 23 July 2004. The Trust Deed of the Iscor
Management Share Incentive Scheme provides that the offer price of the options
shall be the closing price on the JSE on the date preceding the offer date of
the options. In this case it was R37,25.
The terms and conditions relating to the employment of the aforementioned
directors were only finalised yesterday (19 January 2005.
Vanderbijlpark
20 January 2005
Sponsor to Ispat Iscor:
Deutsche Securities (SA) (Proprietary) Limited
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