AFROCENTRIC INVESTMENT CORP LIMITED - Dealings by directors

Release Date: 15/11/2013 12:05
Code(s): ACT ACTP
 
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Dealings by directors

AFROCENTRIC INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE Code: ACT, ACTP
ISIN: ZAE000078416, ZAE000082269
(“AfroCentric” or “the Company”)

DIRECTORS DEALING ANNOUNCEMENT IN RESPECT OF THE EXERCISE OF
CALL OPTIONS AND REDEMPTION AND DELISTING OF THE REDEEMABLE
PREFERENCE SHARES IN THE ISSUED CAPITAL OF THE COMPANY


AfroCentric Preference Shareholders are referred to a circular
that was mailed to them on Monday, 28 October 2013 regarding
the exercise of Call Options and redemption and delisting of
all of the Preference Shares.

In the circular to AfroCentric Preference Shareholders, the
Company advised that directors holding 10 121 144 Preference
Shares in aggregate and representing 60.83% of the Preference
Shares in issue had provided irrevocable undertakings to
exercise the Call Options in respect of all the Preference
Shares held by them.

In compliance with paragraphs 3.63 to 3.74 of the Listings
Requirements of the JSE the following information is
disclosed:


Name of Director        :     JM Kahn
Company                 :     AfroCentric
Date of transaction     :     15 November 2013
Nature of transaction   :     Off market exercise of call
                              options for new ordinary shares
                              in AfroCentric pursuant to the
                              redemption provisions attaching
                              to each of the redeemable
                              preference shares
Class of security       :     Redeemable preference shares /
                              Ordinary Shares
Number of securities    :     3 784 981 redeemable preference
                              shares
Nature of interest      :    Direct beneficial
Clearance obtained      :     Yes


Name of Director        :     MI Sacks
Company                 :     AfroCentric
Date of transaction     :     15 November 2013
Nature of transaction   :     Off market exercise of call
                              options for new ordinary shares
                              in AfroCentric pursuant to the
                              redemption provisions attaching
                              to each of the redeemable
                              preference shares
Class of security       :     Redeemable preference shares /
                              Ordinary Shares
Number of securities    :     3 787 981 redeemable preference
                              shares
Nature of interest      :    Direct beneficial
Clearance obtained      :     Yes


The number of ordinary shares issued to the abovementioned
directors, as well as the trade price and value of the
transaction will be announced on 3 January 2014 once the
results of the election are known.

Johannesburg
15 November 2013

Sponsor
Sasfin Capital, a division of Sasfin Bank Limited

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