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ELLIES HOLDINGS LIMITED - Dealings in securities by a director

Release Date: 07/04/2015 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”)


DEALINGS IN SECURITIES BY A DIRECTOR


Shareholders are referred to the announcement released on SENS on 12 October 2012 wherein shareholders were
advised that Ryan Otto (“Otto”) 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 8 equal tranches of 625 000 Ellies shares each, twice monthly
from 5 February 2015 to 14 May 2015 (each a “settlement date”), each option in respect thereof having a put strike
price of R6.90 and a call strike price of R8.63 (the “Otto collar”). As the share price of Ellies shares at the settlement
date of 2 April 2015 was less than the put strike price of R6.90, the Otto collar in respect of that settlement date was
automatically settled off-market by the retention of in aggregate 625 000 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 R4 312 500.00.

7 April 2015


Sponsor

Java Capital

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