Prism - Purchase Of Shares By Prism"s Share Incent
Prism - Purchase Of Shares By Prism`s Share Incentive Scheme
PRISM HOLDINGS LIMITED
Registration number : 1998/018949/06
Share code : PIM
ISIN : ZAE000022257
(`Prism`)
ANNOUNCEMENT REGARDING PURCHASES OF SHARES BY PRISM`S SHARE INCENTIVE SCHEME
(`STAFF TRUST`)
1. INTRODUCTION
The requirement to consolidate share incentive schemes may result in material
impacts upon the earnings and headline earnings per share of listed companies as
a result of large purchases of shares by share incentive schemes. Accordingly,
Prism announces that the Staff Trust has purchased 27 941 024 Prism ordinary
shares, representing 4.7% of Prism`s total issued ordinary shares. These shares
were acquired to cover outstanding options granted to staff of Prism in
accordance with the rules of the Staff Trust.
2. DETAILS OF THE PURCHASE BY THE SHARE TRUST
Details of the purchase by the Share Trust are as follows:-
- Number of ordinary shares repurchased 27 941 024
- Value of ordinary shares repurchased 10.6 million
- Price paid per ordinary share 38 cents
3. FINANCIAL EFFECTS OF THE PURCHASE BY THE SHARE TRUST
The pro forma financial effect of the purchase by the Share Trust upon the
earnings, headline earnings, diluted earnings and diluted headline earnings per
Prism share is not material.
The pro forma financial effect of the purchase by the Share Trust upon net asset
value per Prism share is to reduce the net asset value per Prism share of 20.1
cents as at 31 December 2004 (as per Prism`s unaudited interim results for the
period then ended) to 19.2 cents per share, a reduction of 4.5%.
The pro forma financial effect of the purchase by the Share Trust upon tangible
net asset value per Prism share is to reduce the tangible net asset value per
Prism share of 18.1 cents per Prism share as at 31 December 2004 (as per Prism`s
unaudited interim results for the period then ended) to 17.0 cents per share, a
reduction of 6.1%.
Fourways
18 May 2005
Sponsor
Standard Bank
Date: 18/05/2005 01:40:29 PM
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