FirstRand - Sale And Subsequent Purchase Of Shares
FIRSTRAND LIMITED
(Registration number: 1966/010753/06)
ISIN: ZAE000014973
Share Code: FSR
(`FirstRand`)
SALE AND SUBSEQUENT PURCHASE OF SHARES
In compliance with the JSE Listings Requirements, the following information is
disclosed:
Director : Mr. L Dippenaar
Company : FirstRand
Class of securities : Ordinary shares
Nature of transaction : Sale
Number of securities : 405 954
Date of transaction : 14 April 2005
Selling price : R13.00
Total value of transaction : R5 277 402.00
Nature and extent of
director`s interest : Indirect Beneficial
Clearance received : Yes
The proceeds were used firstly to redeem a preference share liability, which was
issued during 1997 to raise funding to acquire FirstRand shares in terms of a
Momentum management share incentive scheme, which has now reached maturity.
The balance of the proceeds attributable to Mr. L Dippenaar amounted to a net
profit of R883 617,53 and has been applied towards a purchase of FirstRand
shares to maintain his indirect beneficial holding, as set out below. The
balance payable in terms of the purchase was funded by Mr. L Dippenaar.
Director : Mr. L Dippenaar
Company : FirstRand
Class of securities : Ordinary shares
Nature of transaction : Purchase
Number of securities : 405 954
Date of transaction : 14 April 2005
Selling price : R13.00
Total value of transaction : R5 277 402.00
Nature and extent of
director`s interest : Indirect Beneficial
Clearance received : Yes
Sandton
18 April 2005
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
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