Discovery Holdings Limited - Further Information R
Discovery Holdings Limited - Further Information Relating To Discovery`s Black
Economic Empowerment Transaction
DISCOVERY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1999/007789/06)
ISIN: ZAE000022331
Share Code: DSY
(`Discovery`)
FURTHER INFORMATION RELATING TO DISCOVERY`S BLACK ECONOMIC EMPOWERMENT
TRANSACTION
Shareholders are referred to the SENS announcement published on 13 September
2005 relating to Discovery`s Black Economic Empowerment transaction (`BEE
announcement`). As set out in paragraph 5.5 of the BEE announcement, Discovery
has a right, at the end of 10 years, to purchase from WDB Investments Holdings
(Proprietary) Limited, Dr Thabane Vincent Maphai, the Discovery Foundation and
the black non-executive directors, such number of ordinary shares at 0,1 cent
per share as will be calculated with reference to a formula to provide Discovery
with a notional return. Shareholders are advised that the weighted average
notional return is approximately 0.84% (84 basis points) over the prime rate.
A circular containing the full details of the transaction, including a notice of
general meeting, will be posted to Discovery shareholders in due course.
Sandton
26 September 2005
Joint transactional adviser and transaction sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Joint transactional adviser
BusinessMap Investment Strategy Advisers (Pty) Ltd
Financial adviser to WDBIH
Morgan Stanley
Corporate law advisers to Discovery
Edward Nathan (Pty) Ltd
Legal advisers to WDBIH
MJ King Inc.
Structuring adviser
Rand Merchant Bank (A division of FirstRand Bank Limited)
Reporting accountants and auditors
PricewaterhouseCoopers Inc.
Independent sponsor
PricewaterhouseCoopers Inc.
Date: 26/09/2005 03:40:27 PM
Produced by the JSE SENS Department
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