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ECSPONENT LIMITED - Change of Beneficial Interest in Securities, Dealing by an Associate of a Director and Change in Board of Directors

Release Date: 03/10/2016 16:57
Code(s): ECS     PDF:  
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Change of Beneficial Interest in Securities, Dealing by an Associate of a Director and Change in Board of Directors

ECSPONENT LIMITED
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ECS – ISIN: ZAE000136677
(“the Company” or “Ecsponent”)


CHANGE OF BENEFICIAL INTEREST IN SECURITIES, SHARE DEALING BY AN
ASSOCIATE OF A DIRECTOR AND CHANGE IN THE BOARD OF DIRECTORS


Shareholders of the Company are hereby notified, in accordance with section 122(3) of the
Companies Act (No. 71 of 2008), as amended, and paragraph 3.83(b) of the Listings
Requirements of the JSE Limited, that the Company has received notification from Ecsponent
Capital (Rf) Limited (“Ecsponent Capital”) that it has decreased its beneficial interest in the
Company to 15.8%.

The Company has further received notification from Mason Alexander Proprietary Limited that
it has acquired a beneficial interest in the Company of 34.90% and has entered into an option
agreement with Ecsponent Capital to acquire the remaining 15.8% shares held by Ecsponent
Capital by no later than 31 December 2018.

Further to the change in beneficial shareholding, the company is pleased to announce that:
1.  Mr Patrick Matute will join the board as a non-executive director. Mr Matute is a corporate
    finance advisory and private equity expert, with over 9 years’ experience in mining
    resources and general corporate finance in Sub-Saharan Africa. Core skills that Mr Matute
    brings to the board of directors include knowledge on mergers and acquisitions, disposals,
    listed company’s regulatory issues, capital raising and financial modelling;
2.  Mr. Euné Engelbrecht has resigned as Chief Executive Officer, but will remain on the
    board as a non-executive director, effective 30 September 2016; and
3.  Mr. Terence Gregory, currently appointed as the Chief Operating Officer, has been
    appointed as the Chief Executive Officer with effect from 30 September 2016. Mr Gregory
    was previously appointed as the Chief Executive Officer of Ecsponent and has been with
    the Company for 6 years.

As a result of the above change in beneficial shareholding by Ecsponent Capital, shareholders
are notified, in compliance with paragraph 3.63 of the JSE Limited Listings Requirements, of
the following dealings by an associate of a director of the Company in an off-market
transaction:

Name of Director:                              Euné Engelbrecht
Category of director:                          Non-executive director
Name of associate:                             Ecsponent Capital
Classification of interest:                    Indirect non-beneficial interest
Relationship to director:                      Ecsponent Capital is wholly owned by the
                                               Holdem Legacy Trust, in which Euné is a
                                               Trustee

Dealing 1:
Nature of transaction:                          Disposal of ordinary shares:
Number of shares:                               324 728 910
Price of trade:                                 15 cents per share
Value of trade:                                 R48 709 337.00
Date of trade:                                  29 September 2016

Dealing 2:
Nature of transaction:                          Option granted over the ordinary shares
Number of shares:                               146 739 382
Strike price:                                   15 cents per share if exercised before
                                                29 September 2017, after which the price will
                                                be increased at the prime lending rate.
Exercise period                                 29 September 2016 to 31 December 2018



Pretoria
3 October 2016

Sponsor
Questco Proprietary Limited

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