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MULTICHOICE GROUP LIMITED - Dealings in securities by a director of a major subsidiary and by the Share Appreciation Rights Plan

Release Date: 27/11/2020 17:30
Code(s): MCG     PDF:  
Wrap Text
Dealings in securities by a director of a major subsidiary and by the Share Appreciation Rights Plan

MULTICHOICE GROUP LIMITED
 (incorporated in the Republic of South Africa)
(Registration number: 2018/473845/06)
JSE Share Code: MCG
ISIN: ZAE000265971
("MultiChoice" or "the Company" or "the Group")

DEALINGS IN SECURITIES BY A DIRECTOR OF A MAJOR SUBSIDIARY AND BY THE SHARE APPRECIATION
RIGHTS PLAN

In compliance with the JSE Limited Listings Requirements, the following transactions are hereby
disclosed:

 Name of director trading                         :      Tom de Vries
 Director of:                                     :      MultiChoice Africa Holdings B.V.
                                                         (a major subsidiary of MultiChoice)
 Date of transaction                              :      26 November 2020
 Nature of transaction                            :      In terms of the Irdeto Holdings BV 2012 share
                                                         appreciation rights (SARs) plan, Tom de Vries was
                                                         awarded 1 164 SARs. The SARs awarded vested
                                                         as follows:

                                                             -   547 on 18 September 2020
                                                             -   60 on 29 August 2020
                                                             -   87 on 28 June 2020
                                                             -   470 on 25 June 2020

                                                         Tom de Vries exercised 1 164 SARs (vesting on
                                                         the above stated dates) in terms of the
                                                         abovenamed SARs plan and received 5 440
                                                         MultiChoice ordinary shares in settlement of the
                                                         gain (determined by translating the gain on the
                                                         SARs at a US$77.40: R15.23 exchange rate as at
                                                         24 November 2020 and based on the closing
                                                         price of a MultiChoice ordinary share on 24
                                                         November 2020 being R132.47). Tom de Vries
                                                         then sold 5 440 MultiChoice ordinary shares on
                                                         market.
 SAR award price                                  :      547 SARs at $20.48
                                                         60 SARs at $33.00
                                                         87 SARs at $43.24 and
                                                         470 SARs at $54.91
 SAR strike price                                 :      US$77.40
 SAR value gained                                 :      US$ 47 341.46 (ZAR 720 803.93)
 Volume weighted average selling price per        :      R133.70
 share
 Highest selling price per share                  :      R 134.03
 Lowest selling price per share                   :      R 133.60
 Value of sale                                    :      R 727 339.91
 Clearance obtained                               :      Clearance has been received in terms of
                                                         paragraph 3.66 of the JSE Listings Requirements
 Nature of interest                               :      Direct, beneficial


 Name of share appreciation rights plan           :      Irdeto Holdings BV 2012 share appreciation rights
                                                         (SARs) plan
 Date of transaction                              :      26 November 2020
 Nature of transaction                            :      On-market purchase of ordinary shares
 Number of securities                             :      5 440
 Class of securities                              :      Ordinary shares
 Volume weighted average purchase price per       :      R133.69
 share
 Highest purchase price per share                 :      R134.00
 Lowest purchase price per share                  :      R133.60
 Value of purchase                                :      R727 269.60
 Clearance obtained                               :      Clearance has been received in terms of
                                                         paragraph 3.66 of the JSE Listings Requirements
 Nature of interest                               :      Direct, non-beneficial


Randburg
27 November 2020

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)




Important notice
Shareholders should take note that, pursuant to a provision of the MultiChoice memorandum of
incorporation, MultiChoice is permitted to reduce the voting rights of shares in MultiChoice (including
MultiChoice shares deposited in terms of the American Depositary Share ("ADS") facility) so that the
aggregate voting power of MultiChoice shares that are presumptively owned or held by foreigners to
South Africa (as envisaged in the MultiChoice memorandum of incorporation) will not exceed 20% of the
total voting power in MultiChoice. This is to ensure compliance with certain statutory requirements
applicable to South Africa. For this purpose, MultiChoice will presume in particular that:
    - all MultiChoice shares deposited in terms of the MultiChoice ADS facility are owned or held by
      foreigners to South Africa, regardless of the actual nationality of the MultiChoice ADS holder; and
    - all shareholders with an address outside of South Africa on the register of MultiChoice will be
      deemed to be foreigners to South Africa, irrespective of their actual nationality or domicilium,
      unless such shareholder can provide proof, to the satisfaction of the MultiChoice board, that it
      should not be deemed to be a foreigner to South Africa, as envisaged in article 40.1.3 of the
      MultiChoice memorandum of incorporation.

Shareholders are referred to the provisions of the MultiChoice memorandum of incorporation available
at www.multichoice.com for further detail. If shareholders are in any doubt as to what action to take, they
should seek advice from their broker, attorney or other professional adviser.

Date: 27-11-2020 05:30:00
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