MET - Metropolitan Holdings Limited - Metropolitan
MET
MET
MET - Metropolitan Holdings Limited - Metropolitan share dealings
Metropolitan Holdings Limited
Registration number: 2000/031756/06
JSE code: MET NSX code: MTD
ISIN code: ZAE000050456
("Metropolitan")
METROPOLITAN SHARE DEALINGS
Introduction
Shareholders are referred to the announcements released on SENS on 17 June 2004
and 18 August 2005 regarding Phase I and II respectively of Metropolitan`s black
economic empowerment transaction.
In Phase I, Kagiso Trust Investments (Pty) Limited ("KTI"), which is controlled
by the Kagiso Trust through a wholly-owned subsidiary ("Newco"), procured the
incorporation of a private company ("the SPV") that acquired an interest in
Metropolitan. As part of Phase II, the Metropolitan Empowerment Trust ("the
Trust") was established, the beneficiaries of which are Metropolitan management,
including executive directors of Metropolitan. The Trust acquired 25% of the
issued share capital of Newco. In Phase II, the SPV acquired a further interest
in Metropolitan as a result of which it currently holds an 18.5% interest in
Metropolitan.
Share dealings
Newco is proposing that the SPV increase its interest in Metropolitan by
purchasing Metropolitan ordinary shares on the open market from time to time.
Metropolitan will not be involved in any way in the funding of such purchases by
the SPV. As beneficiaries of the Trust, the executive directors of Metropolitan
will have an indirect beneficial interest in any Metropolitan ordinary shares
purchase by the SPV. Similarly the KTI appointed directors on the board of
Metropolitan will have an interest by virtue of their indirect shareholding in
KTI.
Cape Town
13 December 2006
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 13/12/2006 08:46:01 Produced by the JSE SENS Department.
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