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DISCOVERY HOLDINGS LIMITED - Dealings in securities by directors of major subsidiaries

Release Date: 24/10/2012 13:38
Code(s): DSY     PDF:  
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Dealings in securities by directors of major subsidiaries

DISCOVERY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1999/007789/06)
ISIN: ZAE000022331
Share Code: DSY
("Discovery")

DEALINGS IN SECURITIES BY DIRECTORS OF MAJOR SUBSIDIARIES

Shareholders are referred to the announcement released on SENS on
21 September 2007 relating to shares acquired by members of the
Discovery Senior Management team from FirstRand Limited
(“FirstRand”) as part of the unbundling of FirstRand`s interest in
Discovery to its shareholders. In order to facilitate the
acquisition of these shares, the affected members of the Discovery
Senior Management team obtained 5-year term financing that becomes
due and payable on or before 30 November 2012. Implicit in the
share purchase programme was a commitment by the Senior Management
team to maintain a long-term holding in the shares, equating to a
minimum period of 5 years, which matched the financing term and
provided a mechanism to repay the obligation when due. With the
expiration of the 5-year term, certain members of the Discovery
Senior Management team may dispose of some or all of the acquired
shares in order to extinguish existing obligations. In this
regard, the following disposals of these acquired shares have
taken place.

In compliance with the JSE Limited Listings Requirements,
shareholders are advised of the following sale of shares by
directors of major subsidiaries of Discovery:

Director                    :   J Broomberg
Company                     :   Discovery Health (Pty) Limited
Date of transaction         :   23 October 2012
Nature of transaction       :   On market disposal of shares
Class of securities             Ordinary shares
Number of securities        :   25 000
Sale price                  :   R55,10
Transaction value           :   R1,377,500
Nature of interest          :   Direct beneficial
Clearance obtained          :   Yes

Director                    :   K Rabson
Company                     :   Discovery Life Limited
Date of transaction         :   23 October 2012
Nature of transaction       :   On market disposal of shares
Class of securities             Ordinary shares
Date of transaction         :   23 October 2012
Number of securities        :   27,944
Sale price                  :   R55.0428
Transaction value           :   R1,538,116
Nature of interest          :   Direct beneficial
Clearance obtained          :   Yes


Sandton
24 October 2012

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 24/10/2012 01:38:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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