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Dealings in securities by a director
DISCOVERY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/007789/06)
Legal Entity Identifier: 378900245A26169C8132
JSE share code: DSY, DSYBP
DSY ISIN: ZAE000022331
DSBP ISIN: ZAE000158564
JSE bond code: DSYI
(“Discovery”)
DEALINGS IN SECURITIES BY A DIRECTOR
In compliance with the JSE Limited Listings Requirements, the following information is disclosed.
Shareholders are referred to the announcement released on the Stock Exchange News Service on 2
December 2019 which, in turn, referred to prior announcements, dated 21 October 2016 and 4 November
2013, with regards to Mr Gore’s hedging transactions entered into over a portion of his shareholding in
Discovery.
Shareholders are now advised that Mr. Gore has further extended and amended the existing hedging
transactions originally entered into on 17 October 2016 as stated below. These hedging transactions are
related to funding arrangements entered into in order to follow various rights offers and subscriptions for
shares over time.
Director : Adrian Gore
Company : Discovery Limited
Office held : Group Chief Executive
Date of transactions : 17 March 2020
Class of securities : Options over Discovery ordinary shares
Nature of interest : Indirect beneficial
On market / off market : Off market
Clearance obtained : Yes
Transaction 1
Nature of transaction : Purchase of European put options with a strike price
of R 74.3750
Exercise Dates : Every business day from 06 March 2023 to 19 May
2023
(50 equally weighted tranches)
Number of options : 3,250,000
Notional value of transaction in 2023 : R 241,718,750.00
Transaction 2
Nature of transaction : Purchase of European put options with a strike price
of R 87.1250
Exercise Dates : Every business day from 06 March 2023 to 19 May
2023
(50 equally weighted tranches)
Number of options : 3,250,000
Notional value of transaction in 2023 : R 283,156,250.00
Transaction 3
Nature of transaction : Purchase of European put options with a strike price
of R 59.4700
Exercise Dates : Every business day from 05 March 2024 to 17 May
2024
(50 equally weighted tranches)
Number of options : 5,000,000
Notional value of transaction in 2024 : R 297,350,000.00
Transaction 4
Nature of transaction : Purchase of European put options with a strike price
of R 70.9800
Exercise Dates : Every business day from 05 March 2024 to 17 May
2024
(50 equally weighted tranches)
Number of options : 5,000,000
Notional value of transaction in 2024 : R 354,900,000.00
Transaction 5
Nature of transaction : Sale of European call options with a strike price of R
142.3750
Exercise Dates : 06 March 2023 to 19 May 2023
(50 equally weighted tranches)
Number of options : 3,250,000
Notional value of transaction in 2023 : R 462,718,750.00
Transaction 6
Nature of transaction : Sale of European call options with a strike price of R
155.1250
Exercise Dates : 06 March 2023 to 19 May 2023
(50 equally weighted tranches)
Number of options : 3,250,000
Notional value of transaction in 2023 : R 504,156,250.00
Transaction 7
Nature of transaction : Sale of European call options with a strike price of R
143.8800
Exercise Dates : Every business day from 05 March 2024 to 17 May
2024
(50 equally weighted tranches)
Number of options : 5,000,000
Notional value of transaction in 2024 : R 719,400,000.00
Transaction 8
Nature of transaction : Sale of European call options with a strike price of R
155.3900
Exercise Dates : Every business day from 05 March 2024 to 17 May
2024
(50 equally weighted tranches)
Number of options : 5,000,000
Notional value of transaction in 2024 : R 776,950,000.00
Sandton
23 March 2020
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 23-03-2020 12:20:00
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