DISCOVERY LIMITED - Dealings in securities by a director

Dealings in securities by a director

DISCOVERY LIMITED 
(Incorporated in the Republic of South Africa) 
(Registration number 1999/007789/06) 
JSE share code: DSY ISIN: ZAE000022331 
(“Discovery”) 
 
DEALINGS IN SECURITIES BY A DIRECTOR 
 
In compliance with the JSE Limited Listings Requirements, the following information is disclosed: 
Mr Barry Swartzberg has entered into a series of hedging transactions over a portion of his shareholding in Discovery. 
The hedging transactions have been entered into primarily to manage risk associated with debt raised by Mr Swartzberg 
during previous rights issues.  
 
  Director                                         :   Mr Barry Swartzberg
  Company                                          :   Discovery  Limited 
  Date of transactions                             :   29 October 2018
  Class of securities                              :   Options over Discovery ordinary shares  
  Nature of interest                               :   Indirect beneficial
  On market / off market                           :   Off market 
  Clearance obtained                               :   Yes 
 
Transaction 1 
  Nature of transaction                            :   Purchase of cash-settled European put options with a strike 
                                                       price of R 94.3750 per share 
  Exercise Dates                                   :   Every Tuesday and Thursday from 6 September 2022 to 15 
                                                       December 2022 (30 equally weighted tranches) 
  Number of options                                :   3,000,000
  Initial Price per share                          :   R 151.000
  Notional value of transaction                    :   R 283,125,000
 
Transaction 2 
  Nature of transaction                            :   Purchase of cash-settled European put options with a strike 
                                                       price of R 117.0250 per share
  Exercise Dates                                   :   Every Tuesday and Thursday from 6 September 2022 to 15 
                                                       December 2022 (30 equally weighted tranches) 
  Number of options                                :   3,000,000
  Initial Price per share                          :   R 151.00 
  Notional value of transaction                    :   R 351,075,000
 
Transaction 3 
  Nature of transaction                            :   Purchase of cash-settled European call options with a strike 
                                                       price of R 269.5350 per share
  Exercise Dates                                   :   Every Tuesday and Thursday from 6 September 2022 to 15 
                                                       December 2022 (30 equally weighted tranches) 
  Number of options                                :   3,000,000
  Initial Price per share                          :   R 151.00 
  Notional value of transaction                    :   R 808,605,000
 
Transaction 4 
  Nature of transaction                            :   Purchase of cash-settled European call options with a strike 
                                                       price of R 292.1850 per share 
  Exercise Dates                                   :   Every Tuesday and Thursday from 6 September 2022 to 15 
                                                       December 2022 (30 equally weighted tranches) 
  Number of options                                :   3,000,000
  Initial Price per share                          :   R 151.00
  Notional value of transaction                    :   R 876,555,000
 
 
 
Sandton 
2 November 2018 
Sponsor 
RAND MERCHANT BANK (A division of FirstRand Bank Limited)  
 
 

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