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ELLIES HOLDINGS LIMITED - Dealings in securities by a director and an associate of a director

Release Date: 24/11/2014 15:08
Code(s): ELI     PDF:  
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Dealings in securities by a director and an associate of a director

ELLIES HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2007/007084/06)
JSE share code: ELI ISIN: ZAE000103081
(“Ellies” or the “company”)


DEALINGS IN SECURITIES BY A DIRECTOR AND AN ASSOCIATE OF A DIRECTOR


Shareholders are referred to the announcement released on SENS on 27 January 2012 wherein shareholders were
advised that Elliot Salkow (“Ellie”) had entered into a zero-cost collar hedge, in respect of in aggregate 5 000 000
Ellies shares, which zero-cost collar hedge would settle in 20 equal tranches of 250 000 Ellies shares each, twice
monthly from 16 September 2013 to 9 June 2014 (each a “Salkow settlement date”), each option in respect thereof
having a put strike price of R2.21 and a call strike price of R3.58 (the “Salkow collar”) and in respect of which
clearance to deal was received. As the share price of Ellies shares at each of the Salkow settlement dates exceeded the
call strike price of R3.58, the Salkow collar was automatically settled off-market by the retention of in aggregate
5 000 000 Ellies shares by the relevant counterparty under the Salkow collar (which held them pursuant to a pledge
and securities loan arrangement) and payment to Ellie in cash of the call strike price, being in aggregate R17 900 000.

Shareholders are further referred to the announcement released on SENS on 14 August 2012 wherein shareholders
were advised that Berrywood Investments 10 Proprietary Limited (“Berrywood”), an associate of Ellie, had entered
into a zero-cost collar hedge, in respect of in aggregate 3 075 000 Ellies shares, which zero-cost collar hedge would
settle in 8 equal tranches of 384 375 Ellies shares each, twice monthly from 16 October 2014 to 22 January 2015 (each
a “Berrywood settlement date”), each option in respect thereof having a put strike price of R5.63 and a call strike
price of R8.85 (the “Berrywood collar”). As the share price of Ellies shares at each of the Berrywood settlement
dates of 16 October 2014, 30 October 2014 and 13 November 2014, respectively, was less than the put strike price of
R5.63, the Berrywood collar in respect of those Berrywood settlement dates was automatically settled off-market by
the retention of in aggregate 1 153 125 Ellies shares by the relevant counterparty under the Berrywood collar (which
held them pursuant to a pledge and securities loan arrangement) and payment to Berrywood in cash of the put strike
price, being in aggregate R6 492 093.

24 November 2014


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