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KMB
KMB
Kumba Transaction Team released from share trade restraint
KUMBA RESOURCES LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
Share Code: KMB
ISIN Number: ZAE000034310
("Kumba" or "the company")
KUMBA TRANSACTION TEAM RELEASED FROM SHARE TRADE RESTRAINT
Following the publication and mailing of the empowerment transaction
documentation by Kumba on Monday, 9 October 2006, the company"s project team
members were released from a restraint prohibiting them from trading in Kumba
shares or share options. The team was tasked to develop and implement an
empowerment transaction for Kumba, which resulted in a broad framework agreement
among all the parties to the transaction being first announced by way of a
cautionary announcement on SENS on 13 October 2005. This was subsequently
followed by the terms announcement, which was published on SENS on 4 October
2006.
The development of the transaction started in March 2004 and as a result of the
confidentiality and price sensitivity thereof, members of the team have been
restrained from trading in Kumba shares or options since that date.
With the publication of the detailed terms of the transaction and the signing of
all the legal agreements, on SENS on 4 October 2006, the cautionary was
withdrawn, allowing members of the team working on the transaction to trade in
Kumba shares and share options. The team members, including Kumba executive
directors Dr Con Fauconnier, Charles Meintjes, Dirk van Staden and Mike
Kilbride, have exercised their rights in respect of the sale of a portion of
their Kumba shares and options.
As Dr Fauconnier, with the concurrence of the Board, will retire during 2007, he
is making use of this opportunity to restructure and re-balance his portfolio of
shares. He will continue to hold shares in Kumba through Exxaro and Kumba Iron
Ore after the unbundling of the company.
Mr Meintjes has expressed a desire to leave the employ of Kumba and resign his
position on the Board on completion of the transaction to pursue his own
interests.
Both Mr Van Staden and Mr Kilbride will continue their employment with Exxaro as
executive directors for at least two years, with the concurrence of the Exxaro
Board.
It is against this background that Kumba makes the following announcement:
DEALINGS BY DIRECTORS OF KUMBA IN SHARES AWARDED IN TERMS OF THE KUMBA RESOURCES
MANAGEMENT SHARE SCHEME AND KUMBA RESOURCES MANAGEMENT OPTION SCHEME
(collectively "the Scheme")
In terms of the JSE Listings Requirements, notice is hereby given that the
following directors of Kumba has exercised and traded shares in respect of
vested and unvested options, after having received clearance to do so in terms
of the JSE Listings Requirements 3.66. The shares were granted in terms of the
Scheme. Regarding unvested options, in terms of an agreement entered between
Kumba Resources Limited, Kumba Iron Ore Limited, Kumba Resources Management
Share Trust and Kumba Iron Ore Management Share Trust, participants are allowed,
as part of the unbundling of Kumba Iron Ore and the separate listing thereof, to
exercise their options under the Kumba Management Share Scheme. The proceeds of
such exercise of options will however, in terms of this agreement be dealt with
as follows:
1. The directors may apply a portion of the proceeds to settle their tax
obligations.
2. The residual cash proceeds in the Kumba Management Share Trust will be
divided between the latter and the Kumba Iron Ore Management Share Trust with
reference to the weighted average prices of the company"s and Kumba Iron Ore
Limited"s shares for a period of 22 JSE trading days after the listing of Kumba
Iron Ore Limited.
3. The residual cash proceeds related to the company that employs the
participant will be released on the dates that the original options would have
vested.
4. The residual cash proceeds related to the company that does not employ the
participant will be released on the date on which the original options would
have vested or 24 months from the unbundling, whichever is the earlier.
The following ordinary shares of the company have been traded on the JSE:
Name of director: CJ FAUCONNIER
Date of Transaction 10-10-2006
Number of shares: 20,000
Option strike price: R 25.85
Option strike date: 03-12-2001
Periods of exercise and/or vesting: 7 years
Class of securities: Ordinary
Nature of transaction: Options exercised and purchased
Nature of interest: Beneficial
Date of transaction: 09-10-2006
Number of shares: 50,840
Price per share: R 125.10
Total value (pre tax proceeds): R 6,360,084.00
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 5,000
Price per share: R 125.50
Total value (pre tax proceeds): R 627,500.00
Option strike price: R 25.85
Option strike date: 03-12-2001
Periods of exercise and/or vesting: 7 years
Class of securities: Ordinary
Nature of transaction: Options exercised and sold
Nature of interest: Beneficial
Date of transaction: 10-10-2006
Number of shares: 5,950
Price per share: R 125.90
Total value (pre tax proceeds): R 749,105.00
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 150,000
Price per share: R 125.99
Total value (pre tax proceeds): R 18,898,500.00
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 41,680
Price per share: R 126.00
Total value (pre tax proceeds): R 5,251,680.00
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 34,050
Price per share: R 126.50
Total value (pre tax proceeds): R 4,307,325.00
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 65,440
Price per share: R 126.00
Total value (pre tax proceeds): R 8,245,440.00
Option strike price: R 32.80
Option strike date: 01-11-2002
Number of shares: 92,880
Price per share: R 126.00
Total value (pre tax proceeds): R 11,702,880.00
Option strike price: R 39.30
Option strike date: 16-03-2004
Periods of exercise and/or vesting: 7 years
Class of securities: Ordinary
Nature of transaction: Options exercised and sold
Nature of interest: Beneficial
Name of director: MJ KILBRIDE
Date of transaction: 09-10-2006
Number of shares: 25,000
Price per share: R 125.20
Total value (pre tax proceeds): R 3,130,000.00
Option strike price: R 16.54
Option strike date: 25-07-2001
Number of shares: 10,840
Price per share: R 125.25
Total value (pre tax proceeds): R 1,357,710.00
Option strike price: R 16.54
Option strike date: 25-07-2001
Periods of exercise and/or vesting: 9 years
Class of securities: Ordinary
Nature of transaction: Options exercised and sold
Nature of interest: Beneficial
Number of shares: 151,320
Price per share: R 125.25
Total value (pre tax proceeds): R 18,952,830.00
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 40,710
Price per share: R 125.25
Total value (pre tax proceeds): R 5,098.927.50
Option strike price: R 32.80
Option strike date: 01-11-2002
Number of shares: 30,220
Price per share: R 125.25
Total value (pre tax proceeds): R 3,785,055.00
Option strike price: R 39.30
Option strike date: 16-03-2004
Periods of exercise and/or vesting: 7 years
Class of securities: Ordinary
Nature of transaction: Options exercised and sold
Nature of interest: Beneficial
Name of director: DJ VAN STADEN
Date of transaction: 10-10-2006
Number of shares: 14,209
Price per share: R 126.00
Total value (pre tax proceeds): R 1,790,334.00
Option strike price: R 16.54
Option strike date: 25-07-2001
Number of shares: 5,000
Price per share: R 126.15
Total value (pre tax proceeds): R 630,750.00
Option strike price: R 16.54
Option strike date: 25-07-2001
Number of shares: 8,601
Price per share: R 126.50
Total value (pre tax proceeds): R 1,088,026.50
Option strike price: R 16.54
Option strike date: 25-07-2001
Periods of exercise and/or vesting: 9 years
Class of securities: Ordinary
Nature of transaction: Options exercised and sold
Nature of interest: Beneficial
Number of shares: 50,480
Price per share: R 125.00
Total value (pre tax proceeds): R 6,310,000.00
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 2,664
Price per share: R 125.10
Total value (pre tax proceeds): R 333,266.40
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 1,000
Price per share: R 125.11
Total value (pre tax proceeds): R 125,110.00
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 14,706
Price per share: R 125.20
Total value (pre tax proceeds): R 1,841,191.20
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 19,900
Price per share: R 125.60
Total value (pre tax proceeds): R 2,499,440.00
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 10,100
Price per share: R 125.90
Total value (pre tax proceeds): R 1,271,590.00
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 360
Price per share: R 126.10
Total value (pre tax proceeds): R 45,396.00
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 42,140
Price per share: R 126.00
Total value (pre tax proceeds): R 5,309,640.00
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 24,584
Price per share: R 125.00
Total value (pre tax proceeds): R 3,073,000.00
Option strike price: R 32.80
Option strike date: 01-11-2002
Number of shares: 1,000
Price per share: R 125.05
Total value (pre tax proceeds): R 125,050.00
Option strike price: R 32.80
Option strike date: 01-11-2002
Number of shares: 1,136
Price per share: R 125.10
Total value (pre tax proceeds): R 142,113.60
Option strike price: R 32.80
Option strike date: 01-11-2002
Number of shares: 14,910
Price per share: R 125.00
Total value (pre tax proceeds): R 1,863,750.00
Option strike price: R 39.30
Option strike date: 16-03-2004
Periods of exercise and/or vesting: 7 years
Class of securities: Ordinary
Nature of transaction: Options exercised and sold
Nature of interest: Beneficial
Name of director: CF MEINTJES
Date of transaction: 10-10-2006
Number of shares: 20,490
Price per share: R 125.00
Total value (pre tax proceeds): R 2,561,250.00
Option strike price: R 16.30
Option strike date: 04-01-2000
Number of shares: 24,890
Price per share: R 125.00
Total value (pre tax proceeds): R 3,111,250.00
Option strike price: R 16.54
Option strike date: 25-07-2001
Periods of exercise and/or vesting: 9 years
Class of securities: Ordinary
Nature of transaction: Options exercised and sold
Nature of interest: Beneficial
Number of shares: 128,338
Price per share: R 125.00
Total value (pre tax proceeds): R 16,042,250.00
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 4,704
Price per share: R 125.01
Total value (pre tax proceeds): R 588,047.04
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 17,610
Price per share: R 125.00
Total value (pre tax proceeds): R 2,201,250.00
Option strike price: R 32.80
Option strike date: 01-11-2002
Number of shares: 14,410
Price per share: R 125.00
Total value (pre tax proceeds): R 1,801,250.00
Option strike price: R 39.30
Option strike date: 16-03-2004
Periods of exercise and/or vesting: 7 years
Class of securities: Ordinary
Nature of transaction: Options exercised and sold
Nature of interest: Beneficial
Name of company secretary: MS VILJOEN
Date of transaction: 09-10-2006
Number of shares: 16,490
Price per share: R 125.25
Total value (pre tax proceeds): R 2,065,372.50
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 13,922
Price per share: R 125.30
Total value (pre tax proceeds): R 1,744,426.60
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 2,648
Price per share: R 125.32
Total value (pre tax proceeds): R 331,847.36
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 600
Price per share: R 125.33
Total value (pre tax proceeds): R 75,198.00
Option strike price: R 25.85
Option strike date: 03-12-2001
Number of shares: 3,360
Price per share: R 125.30
Total value (pre tax proceeds): R 421,008.00
Option strike price: R 32.80
Option strike date: 01-11-2002
Number of shares: 4,580
Price per share: R 125.50
Total value (pre tax proceeds): R 574,790.00
Option strike price: R 32.80
Option strike date: 01-11-2002
Number of shares: 10,383
Price per share: R 125.15
Total value (pre tax proceeds): R 1,299,432.45
Option strike price: R 39.30
Option strike date: 16-03-2004
Number of shares: 2,587
Price per share: R 125.50
Total value (pre tax proceeds): R 324,668.50
Option strike price: R 39.30
Option strike date: 16-03-2004
Periods of exercise and/or vesting: 7 years
Class of securities: Ordinary
Nature of transaction: Options exercised and sold
Nature of interest: Beneficial
12 October 2006
MS VILJOEN
COMPANY SECRETARY
Sponsor: J.P.Morgan Equities Limited
Date: 12/10/2006 10:51:11 AM Produced by the JSE SENS Department
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