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Discovery - Correction To Dealing In Securities And Donation By Director

Release Date: 06/12/2004 09:58
Code(s): DSY
Wrap Text

Discovery - Correction To Dealing In Securities And Donation By Director Announcement Released On Sens On 1 December 2004 DISCOVERY HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1999/007789/06) ISIN: ZAE000022331 Share Code: DSY Correction To Dealing In Securities And Donation By Director Announcement Released On Sens On 1 December 2004 In compliance with rules 3.63 - 3.74 of the JSE Listings Requirements, the following information is disclosed in respect of Adrian Gore, a director of Discovery Holdings Limited: Class of security : Ordinary Shares Nature of transaction : Sale Date of transaction : 30 November 2004 Clearance obtained : Yes Number of shares : 1 998 611 Selling price : 1650 cents per share Total value of transaction : R32 977 081.50 Nature and extent of Director"s interest : Indirect Non-Beneficial Number of shares : 975 000 Selling price : 1756 cents per share Total value of transaction : R17 121 000.00 Nature and extent of Director"s interest : Indirect Non-Beneficial Number of shares : 1 025 000Selling price : 1756 cents per share Total value of transaction : R17 999 000.00 (amount corrected) Nature and extent of Director"s interest : Direct Beneficial Mr. Adrian Gore, Chief Executive Officer held 51 186 823 ordinary shares. 13 520 651 of these were acquired through Discovery"s capital raising exercise in 2003, funded by personal debt. In order for Mr. Gore to restructure his personal debt and settle the interest to date and prior to the company entering into a closed period with respect to its results for the half year ended 31 December 2004, Mr. Gore has sold 3 998 611 shares to FirstRand Limited, the major shareholder of Discovery, in terms of existing reciprocal pre-emptive rights held by FirstRand Limited in terms of a shareholders" agreement. In a separate transaction, Mr. Gore has also donated 256 412 ordinary shares from his personal holdings to certain individuals. The above transactions constitute approximately 8.31% of Mr. Gore"s holdings. He remains the holder of 46 931 800 ordinary shares. Shareholders are referred to the announcement published by FirstRand on 1 December 2004 relating to the acquisition of additional Discovery shares. Sandton 6 December 2004 Merchant Bank and Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) CORPORATE FINANCE Date: 06/12/2004 09:58:05 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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