Afgem Limited - Accelerated Exercise Of Share Opti
Afgem Limited - Accelerated Exercise Of Share Options
Release Date: 04/08/2005 17:29:02 Code(s): AFG
Afgem Limited - Accelerated exercise of share options
Afgem Limited(Incorporated in the Republic of South Africa)(Registration number
1998/007292/06)JSE code: AFG ISIN: ZAE 000067757(`Afgem` or `the Company`)
Formerly African Gem Resources Limited
ACCELERATED EXERCISE OF SHARE OPTIONS
In compliance with paragraphs 3.63 - 3.74 of the Listings Requirements of JSE
Limited, shareholders are advised that clearance has been given for the
accelerated exercise of previously granted share options to the following
directors of the Company:
DIRECTORS OF AFGEM LIMITED
Director: : Mr. Keith Rayner
Exercise price : 32 cents per share
Number of options and
exercise date : 50,000 ordinary shares on 4 August 2005,
accelerated from 23 June 2006
: 75,000 ordinary shares on 4 August 2005,
accelerated from 23 June 2007
: 125,000 ordinary shares on 4 August 2005
accelerated from 23 June 2008
Nature of transaction : Exercise of share options granted and
accepted on 23 June 2005
Nature of interest : Direct beneficial
Clearance obtained : Yes
Director: : Mr. Chris Boulle
Exercise price : 32 cents per share
Number of options and
exercise date : 50,000 ordinary shares on 4 August 2005,
accelerated from 23 June 2006
: 75,000 ordinary shares on 4 August 2005,
accelerated from 23 June 2007
: 125,000 ordinary shares on 4 August2005,
accelerated from 23 June 2008
Nature of transaction : Exercise of share options granted and
accepted on 23 June 2005
Nature of interest : Direct beneficial
Clearance obtained : Yes
The reason for the acceleration of the exercise dates is the resignation of
these two gentlemen from the board of directors of Afgem.
Melrose Arch
4 August 2005
SponsorABSA Corporate and Merchant Bank - Corporate FinanceFrom:
hendrevz@absa.co.za
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