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

Release Date: 09/01/2015 17:30
Code(s): ELI     PDF:  
Wrap Text
Dealings in securities by 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 AN ASSOCIATE OF A DIRECTOR


Shareholders are 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 Elliot Salkow, a director
of the company, 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 “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 the
settlement date of 8 January 2015 was less than the put strike price of R5.63, the Berrywood collar in respect of that
settlement date was automatically settled off-market by the retention of in aggregate 384 375 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 R2 164 031.25.

9 January 2015


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