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ELLIES HOLDINGS LIMITED - Dealings in securities by a director

Release Date: 27/03/2015 17:30
Code(s): ELI     PDF:  
Wrap Text
Dealings in securities by 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


Shareholders are referred to the announcement released on SENS on 2 April 2013 wherein shareholders were advised
that Ryan Otto (“Otto”) had entered into a zero-cost collar hedge, in respect of in aggregate 4 500 000 Ellies shares,
which zero-cost collar hedge would settle in 5 equal tranches of 900 000 Ellies shares each, once monthly from
26 March 2015 to 27 July 2015 (each referred to in this paragraph as a “settlement date”), each option in respect
thereof having a put strike price of R8.95 and a call strike price of R10.90 (referred to in this paragraph as the “Otto
collar”). As the share price of Ellies shares at the settlement date of 26 March 2015 was less than the put strike price
of R8.95, the Otto collar in respect of that settlement date was automatically settled off-market by the retention of in
aggregate 900 000 Ellies shares by the relevant counterparty under the Otto collar (which held them pursuant to a
pledge and securities loan arrangement) and payment to Otto in cash of the put strike price, being in aggregate
R8 055 000.00.

27 March 2015


Sponsor

Java Capital

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