Keh - Keaton Energy - Directors` Interests In The Sale Of Shares By Rutendo Release Date: 10/06/2008 14:09:00 Code(s): KEH
KEH - Keaton Energy - Directors` Interests In The Sale Of Shares By Rutendo
Holdings (Pty) Ltd
Keaton Energy Holdings Limited
(formerly Tricoal Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2006/011090/06)
JSE share code: KEH & ISIN: ZAE000117420
("Keaton Energy" or "the Company")
DIRECTORS` INTERESTS IN THE SALE OF SHARES BY RUTENDO HOLDINGS (PTY) LTD
Rutendo Holdings (Pty) Ltd ("Rutendo Holdings") sold 1 340 000 Keaton Energy
shares on 10 June 2008 to a single institutional investor at R13.00 per share,
for a total consideration of R17 420 000.
Antoinette Sedibe, a director of Keaton Energy, and Amanda Glad, a director of
Keaton Mining (Pty) Ltd, a major subsidiary of Keaton Energy, are indirectly
beneficially interested in 100% of Rutendo Holdings. Prior to the sale, Rutendo
Holdings held 9.8 million shares in Keaton Energy, 7.8 million shares of which
are founders` shares and are subject to a lock-up agreement, valid until 22
April 2009. Two million shares were received as consideration for the cession
of a number of prospecting rights to Keaton Mining (Pty) Ltd.
Rutendo Mining (Pty) Ltd, in which Antoinette Sedibe and Amanda Glad also have a
100% indirect beneficial interest, remains a 26% shareholder in Keaton Mining.
As a consequence, Keaton Mining remains fully compliant with the historically
disadvantaged person ("HDP") ownership requirements of the South African Mineral
and Petroleum Resources Development Act, No 28 of 2002, as amended ("MPRDA") and
the Broad Based Socio-Economic Empowerment Charter for the South African mining
industry, as contemplated in Section 100(2) of the MPRDA.
This announcement is made in compliance with Section 3.63 of the JSE Listings
Requirements. Clearance to deal was received in terms of Section 3.66 of the
JSE Listings Requirements.
10 June 2008
Date: 10/06/2008 14:09:00 Supplied by www.sharenet.co.za
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