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BEL - Bell Equipment - Acceptance of options by a director of a major subsidiary

Release Date: 17/03/2010 09:45
Code(s): BEL
Wrap Text

BEL - Bell Equipment - Acceptance of options by a director of a major subsidiary Bell Equipment Limited (Incorporated in the Republic of South Africa) Registration number 1968/013656/06 Share Code: BEL ISIN: ZAE000028304 ACCEPTANCE OF OPTIONS BY A DIRECTOR OF A MAJOR SUBSIDIARY In compliance with the JSE Limited Listings Requirements, the following information is disclosed: Director : Jacobus Johannes (Bokkie) Coertze Company : Bell Equipment Sales SA Limited Date of transaction : 16 March 2010 Nature of transaction : Acceptance of options granted to the director Class of securities : Options in respect of ordinary shares Number of options granted : 100 000 Option strike price : R10,48 cents Period of exercise : A maximum of 33,3% is exercisable on the 3rd anniversary, a further maximum of R33,3% is exercisable on the 5th anniversary and the balance is exercisable on
the 7th anniversary Vesting details On exercise of the options Total value of transaction : R1 048 000 Nature of director`s interest : Direct beneficial Clearance obtained : Yes Richards Bay 17 March 2010 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 17/03/2010 09:45:07 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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