To view the PDF file, sign up for a MySharenet subscription.

TRANSACTION CAPITAL LIMITED - Dealings in securities by associates of a director and notice of change of beneficial interests

Release Date: 26/11/2020 17:30
Code(s): TCP     PDF:  
Wrap Text
Dealings in securities by associates of a director and notice of change of beneficial interests

Transaction Capital Limited                         TransCapital Investments Limited 
(Incorporated in the Republic of South Africa)      (Registration No. 2016/130129/06)                                 
Registration No: 2002/031730/06                     (Incorporated in the Republic of South Africa)                                          
JSE share code: TCP                                  JSE debt code: TCII
ISIN: ZAE000167391
("Transaction Capital" or "the Company")


The family of Michael Paul Mendelowitz, a founder of Transaction Capital, is undertaking a process to
rearrange the ownership of its interest in Transaction Capital, but with no change in its absolute holding in
the Company.
In compliance with paragraphs 3.63 and 3.65 of the JSE Limited Listings Requirements (“Listings
Requirements”), the following information is disclosed:

  Name of director                                  Michael Paul Mendelowitz
  Name of company                                   Transaction Capital Limited
  Date transaction was effected                     25 November 2020
  Class of security                                 Ordinary shares
  Share price                                       R21.58
  Number of shares                                  36 333 333
  Total value                                       R784 073 326
  Nature of transaction                             Off market disposal and acquisition of ordinary shares
  Nature of interest                                Indirect, non-beneficial
  Clearance obtained                                Yes
  Interest of associates                            The Mendelowitz family’s look through rights to
                                                    36 333 333 Transaction Capital shares (‘the shares’),
                                                    held by Rutland Trust (‘RT’), have been acquired by
                                                    Mr. Mendelowitz.

                                                    Mr. Mendelowitz will thereafter dispose of the shares
                                                    to Pilatucom Holdings Limited (‘Pilatucom’) 33.33% of
                                                    the shares of which will be held by a trust of which
                                                    Mr. Mendelowitz is a contingent discretionary

                                                    The transaction with Pilatucom will be implemented
                                                    once formalities are finalised.
Change of beneficial interests

As a result of the above, and in accordance with section 122(3)(b) of the Companies Act no. 71 of 2008 (as
amended) (‘the Act’), and paragraph 3.83(b) of the Listings Requirements, shareholders are hereby advised
that the Company received formal notification of the following changes of beneficial interests in the

1. RT has disposed of the shares in the company to Mr. Mendelowitz.
2. Mr. Mendelowitz will dispose of the shares to Pilatucom.
3. Pilatucom owns 72 666 667 shares in the Company and, after the acquisition from Mr. Mendelowitz, it
   will accordingly own 109 000 000 shares representing 16.47% of the issued shares in the Company.
   The Mendelowitz family’s look through interest in the issued shares of the Company accordingly
   remains unchanged at 5.49%.

Transaction Capital confirms that, as required in terms of section 122(3)(a) of the Act, the Company has
filed the required notices with the Takeover Regulation Panel and to the best of its knowledge and belief,
the information supplied by Mr.Mendelowitz is complete and consistent.

Hyde Park

26 November 2020

Phillipe Welthagen - Investor Relations
Telephone: +27 845125393

RAND MERCHANT BANK (A division of FirstRand Bank Limited)


Date: 26-11-2020 05:30:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story