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AVI - Grant of share options and settlement of share debt
AVI LIMITED
(Registration number 1944/017201/06)
Share Code: AVI
ISIN: ZAE000049433
(`AVI`)
GRANT OF SHARE OPTIONS AND SETTLEMENT OF SHARE DEBT
The Appointments and Remuneration Committee of the board of AVI has approved the
following allocations of share options made in terms of the AVI Executive Share
Incentive Scheme. The price for the allocation was determined using the 20 day
trade weighted average of the AVI share price for the period ended 31 May 2005.
Certain participants have also been authorised to pay existing share debt owed
to the AVI Share Incentive Trust (`Share Trust`) for scheme shares that have
vested and to take transfer of their shares.
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:
DIRECTORS OF AVI LIMITED
Director : Mr S L Crutchley
Date of allocation : 23 June 2005
Price per unit : R12.62
Number of shares : 211,953 ordinary 5 cent shares
Nature of transaction : Grant of share options
Extent of interest : Direct beneficial
Strike date : 31 May 2008
Director : Mr R S Katzen
Date of allocation : 23 June 2005
Price per unit : R12.62
Number of shares : 141,969 ordinary 5 cent shares
Nature of transaction : Grant of share options
Extent of interest : Direct beneficial
Strike date : 31 May 2008
Director : Mr R S Katzen
Date of transaction : 23 June 2005
Option price : R13.40
Number of shares : 7,922 ordinary 5 cent shares.
Aggregate consideration : R106, 154.80
Nature of transaction : Payment of share debt and taking
transfer of shares from Share Trust.
Extent of interest : Direct beneficial
Director : Mr R S Katzen
Date of transaction : 23 June 2005
Option price : R9.00
Number of shares : 54,688 ordinary 5 cent shares.
Aggregate consideration : R492,192.00
Nature of transaction : Payment of share debt and taking
transfer of shares from Share Trust.
Extent of interest : Direct beneficial
Director : Mr R C Gordon
Date of allocation : 23 June 2005
Price per unit : R12.62
Number of shares : 133,044 ordinary 5 cent shares
Nature of transaction : Grant of share options
Extent of interest : Direct beneficial
Strike date : 31 May 2008
DIRECTORS OF MAJOR SUBSIDIARIES
Director : Mr C B Sampson
Date of allocation : 23 June 2005
Director of : National Brands Limited (`NBL`)
Price per unit : R12.62
Number of shares : 120,605 ordinary 5 cent shares
Nature of transaction : Grant of share options
Extent of interest : Direct beneficial
Strike date : 31 May 2008
Director : Mr K Phillips
Director of : NBL
Date of allocation : 23 June 2005
Price per unit : R12.62
Number of shares : 33,098 ordinary 5 cent shares
Nature of transaction : Grant of share options
Extent of interest : Direct beneficial
Strike date : 31 May 2008
Director : Mr R Williams
Date of allocation : 23 June 2005
Director of : I&J Holdings Company (Pty) Ltd
(`I&J`)
Price per unit : R12.62
Number of shares : 36,632 ordinary 5 cent shares
Nature of transaction : Grant of share options
Extent of interest : Direct beneficial
Strike date : 31 May 2008
Director : Mr G P L Scott
Date of allocation : 23 June 2005
Director of : I&J
Price per unit : R12.62
Number of shares : 21,049 ordinary 5 cent shares
Nature of transaction : Grant of share options
Extent of interest : Direct beneficial
Strike date : 31 May 2008
Director : Mr M Kajee
Date of allocation : 23 June 2005
Director of : I&J
Price per unit : R12.62
Number of shares : 44,327 ordinary 5 cent shares
Nature of transaction : Grant of share options
Extent of interest : Direct beneficial
Strike date : 31 May 2008
Company secretary : Mr C Schoeman
Company Secretary of I&J
Date of allocation : 23 June 2005
Price per unit : R12.62
Number of shares : 29,808 ordinary 5 cent shares
Nature of transaction : Grant of share options
Extent of interest : Direct beneficial
Strike date : 31 May 2008
Company secretary : Mr T Peacock
Company Secretary of NBL
Date of allocation : 23 June 2005
Price per unit : R12.62
Number of shares : 5,588 ordinary 5 cent shares
Nature of transaction : Grant of share options
Extent of interest : Direct beneficial
Strike date : 31 May 2008
Clearance to grant these options and take transfer of 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
23 June 2005
Sponsor
Standard Bank
Date: 23/06/2005 09:01:07 AM
Produced by the JSE SENS Department
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