INVICTA HOLDINGS LIMITED - Dealings in securities by an associate of director

Dealings in securities by an associate of director

Invicta Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/002182/06)
Ordinary Share code: IVT Ordinary Share ISIN ZAE000029773
Preference Share code: IVTP Preference Share ISIN: ZAE000173399
("Invicta" or “the Company)


Dealings in securities by an associate of a director

Shareholders are referred to the announcement released on SENS on 4 February 2014 wherein shareholders
were advised that an associate of Arnold Goldstone, an executive director of the Company, had entered into
a zero-cost collar hedge in respect of 200 000 ordinary shares, which zero-cost collar hedge would settle in
5 equal tranches of 40 000 ordinary shares each, each tranche 2 weeks apart, at the respective settlement
dates of the tranches being 21 January 2015 (“1st Settlement Date”), 4 February 2015 (2nd Settlement
Date”), 18 February 2015 (“3rd Settlement Date”), 4 March 2015 (“4th Settlement Date”) and 18 March
2015 (“5th Settlement Date”), with all tranches having a put strike price of R113.05 and a call strike price of
R136.85 (“Goldstone collar”).

As the share price of Invicta ordinary shares at the 1 st Settlement Date of 21 January 2015 was less than the
put strike price of R113.05, the Goldstone collar in respect of the 1st Settlement Date was settled by the off-
market transfer of 40 000 ordinary shares and the settlement difference by the relevant counterparty under
the Goldstone collar (which held them pursuant to a pledge and securities loan arrangement) back to
Arnold Goldstone’s associate. This is an indirect beneficial interest and chairman’s approval was obtained
at the time of the entering into of the Goldstone collar.

Cape Town
28 January 2015

Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd

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