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MMI - MMI Holdings Limited - Dealings in securities by a director

Release Date: 19/04/2011 11:32
Code(s): MMI
Wrap Text

MMI - MMI Holdings Limited - Dealings in securities by a director MMI HOLDINGS LIMITED Incorporated in the Republic of South Africa) (Registration number: 2000/031756/06 ISIN Code: ZAE000149902 Share Code: (JSE): MMI Share Code: (NSX): MIM DEALINGS IN SECURITIES BY A DIRECTOR In compliance with the JSE Limited Listings Requirements, the following information is disclosed: Director: Sizwe Errol Nxasana Company: MMI Holdings Limited Date of transaction: 15 April 2011 Nature of transaction: Off market delivery of MMI Holdings ordinary shares accrued in terms of an option over FirstRand ordinary shares
granted by the FirstRand Share Trust, following the Momentum unbundling and distribution of MMI Holdings shares to FirstRand shareholders
Class of securities: Exercise of FirstRand options and delivery of MMI Holdings ordinary shares Number of FirstRand options 2 000 000 exercised: Number of MMI ordinary shares 337 532 delivered Value of transaction: R5 676 073.12 Date of transaction: 15 April 2011 Nature of transaction: On market sale of shares Class of securities: Ordinary shares Number of shares sold: 337 532 Selling price: 1 681,64 cps Value of transaction: R5 676 073.12 Date of transaction: 15 April 2011 Nature of transaction: Off market purchase Class of securities: Ordinary shares Number of shares purchased: 485 658 Purchase price: 1690 cps Value of transaction: R8 207 613 Nature of interest: Direct beneficial Clearance obtained: Yes The FirstRand Share Trust issued an option over FirstRand ordinary shares to Mr Nxasana. The option had reached final compulsory take-up date and Mr Nxasana was required to exercise and take delivery of the underlying FirstRand ordinary shares. Following the acquisition of Momentum Group by MMI Holdings ("the Momentum lift-out"), a distribution of MMI Holdings shares was made to FirstRand Ordinary shareholders. In two separate transactions Mr Nxasana sold MMI Holdings ordinary shares and bought MMI Holdings ordinary shares. He sold the shares that had accrued when he exercised the option issued by the FirstRand Share Trust over the FirstRand ordinary shares. He applied part of the proceeds to increase his participation in FirstRand ordinary shares in the private transaction between the FirstRand and RMBH Founders and a group of FirstRand executives (which was announced on SENS on 7 February 2011) and flowing therefrom as a consequence of the Momentum lift-out has taken delivery of 485 658 MMI Holdings ordinary shares, which are subject to conditions of the aforementioned transaction. Place Cape Town 19 April 2011 Sponsor Merrill Lynch South Africa (Pty) Ltd Date: 19/04/2011 11:32:23 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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