Keh - Keaton Energy - Sale Of Shares By Rutendo Holdings (pty) Ltd Release Date: 20/08/2009 15:48:01 Code(s): KEH
KEH - Keaton Energy - Sale Of Shares By Rutendo Holdings (Pty) Ltd
Keaton Energy 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")
SALE OF SHARES BY RUTENDO HOLDINGS (PTY) LTD
On 19 August 2009 Rutendo Holdings (Pty) Ltd ("Rutendo Holdings") sold 500
000 Keaton Energy shares, at R8.50 per share, for a total consideration of
R4 250 000.00.
Antoinette Sedibe, a non-executive director of Keaton Energy, and Amanda
Glad, an executive director of Keaton Energy, are indirectly beneficially
interested in 100% of Rutendo Holdings. Prior to the sale, Rutendo
Holdings held 8.5 million shares in Keaton Energy, 7.84 million shares of
which are founders` shares and are subject to a lock-up agreement, valid
until 22 April 2010.
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 (Pty) Ltd ("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.
20 August 2009
Date: 20/08/2009 15:48:01 Supplied by www.sharenet.co.za
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