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ELLIES HOLDINGS LIMITED - Dealing in securities by an associate of a director of the company

Release Date: 09/11/2015 17:30
Code(s): ELI     PDF:  
Wrap Text
Dealing in securities by an associate of a director of the company

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”)

DEALING IN SECURITIES BY AN ASSOCIATE OF A DIRECTOR OF THE COMPANY

Shareholders are referred to the announcement released on SENS on 14 February 2013 wherein shareholders were
advised that Berrywood Investments 10 Proprietary Limited (“Berrywood”), an associate of Elliot Salkow (by virtue
of his holding 100% of Berrywood’s issued share capital), a director of the company, had entered into a zero-cost
collar hedge, in respect of in aggregate 1 200 000 Ellies shares, which zero-cost collar hedge would settle in 2 equal
tranches of 600 000 Ellies shares each on 23 October 2015 and 6 November 2015 (each referred to in this paragraph as
a “settlement date”), each option in respect thereof having a put strike price of R9.00 and a call strike price of R10.89
(referred to in this paragraph as the “Berrywood collar”). As the share price of Ellies shares at the settlement date of
6 November 2015 was less than the put strike price of R9.00, the Berrywood collar in respect of that settlement date
was automatically settled off-market by the retention of in aggregate 600 000 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 R5 400 000.

9 November 2015

Sponsor
Java Capital

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