SSK
SSK - Stefanutti Stocks Holdings Limited - Dealings in securities by directors
of the company
Stefanutti Stocks Holdings Limited
(Registration number 1996/003767/06)
Share code: SSK ISIN: ZAE000123766
("Stefanutti Stocks" or "the group" or "the Company")
DEALINGS IN SECURITIES BY DIRECTORS OF THE COMPANY
The Board of Stefanutti Stocks has been cognizant of the lack of liquidity in
the Company`s shares since listing but had always decided to retain this status
in the initial years of listing. With the maturity of the stock over time,
management has in recent years conveyed their intention to improve the stock
liquidity in the market.
Accordingly founding shareholder Gino Stefanutti, and certain other directors of
Stefanutti Stocks` including Willie Meyburgh, Dermot Quinn, Bridgman Sithole and
Joseph Fizelle (alternate to Bridgman) have today placed approximately 32,7
million Stefanutti Stocks shares with a major local institutional investor. Mr.
Stefanutti`s role as an executive director of Stefanutti Stocks changed to that
of non-executive, with effect from 1 March 2010, whilst Mr. Meyburgh and Mr.
Quinn have been CEO and CFO, respectively, since the group`s listing in August
2007. Mr. Sithole has been a non-executive director since listing.
"It is expected that this structured placement will go some way in addressing
the issue of liquidity, whilst the shares sold by the executive directors of
Stefanutti Stocks, represent only a small percentage of their entire
shareholding", says Mr. Meyburgh. "We appreciate the vote of confidence from a
major local institutional investor in the group, which at the same time assists
us in our objective of improving liquidity in the stock."
SHARE DEALINGS
In compliance with paragraphs 3.63 - 3.74 of the Listings Requirements of the
JSE Limited, the following information is disclosed:
Name of director: Biagino Stefanutti - (Chairman)
Date of transaction: 12 July 2011
Price per share: R12.20
Number of shares: 26 330 000
Total value: R321 226 000
Class of securities: Ordinary shares of 0.00025 cent each
Nature of transaction: Sale of shares (off market transaction)
Extent of interest: Direct beneficial
Clearance was given
Name of director: Bridgman Sithole - (Non-executive director)
Date of transaction: 12 July 2011
Price per share: R12.20
Number of shares: 646 018
Total value: R7 881 420
Class of securities: Ordinary shares of 0.00025 cent each
Nature of transaction: Sale of shares (off market transaction)
Extent of interest: Indirect beneficial
Clearance was given
Name of director: Willem Meyburgh - (Chief Executive Officer)
Date of transaction: 12 July 2011
Price per share: R12.20
Number of shares: 1 500 000
Total value: R18 300 000
Class of securities: Ordinary shares of 0.00025 cent each
Nature of transaction: Sale of shares (off market transaction)
Extent of interest: Indirect beneficial
Clearance was given
Name of director: Dermot Quinn - (Chief Financial Officer)
Date of transaction: 12 July 2011
Price per share: R12.20
Number of shares: 350 000
Total value: R4 270 000
Class of securities: Ordinary shares of 0.00025 cent each
Nature of transaction: Sale of shares (off market transaction)
Extent of interest: Indirect beneficial
Clearance was given
Name of director: Joseph Fizelle - (Non-executive director - Alternate)
Date of transaction: 12 July 2011
Price per share: R12.20
Number of shares: 203 540
Total value: R2 483 188
Class of securities: Ordinary shares of 0.00025 cent each
Nature of transaction: Sale of shares (off market transaction)
Extent of interest: Indirect beneficial
Clearance was given
13 July 2011
Johannesburg
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 13/07/2011 07:30:01
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