SUR
SUR
SUR - Spur Corporation Limited - Dealing in Securities by Directors
SPUR CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/000828/06)
Share Code: SUR & ISIN: ZAE000022653
("Spur")
Dealing in Securities by Directors
In terms of paragraph 3.63 to 3.74 of the JSE Limited ("JSE") Listing
Requirements the following information is disclosed:
As part of the Spur Management Incentive Scheme ("the Scheme") approved by
shareholders in General Meeting on 15 December 2004 (as more fully described in
note 19 on page 72 of the Annual Report for the year ended 30 June 2009), 9 750
000 ordinary Spur shares ("shares") were allocated to the Scheme of which 8 274
043 shares were allotted to Maxshell 72 Investments (Proprietary) Limited
("Maxshell"). The ordinary shares of Maxshell were in turn allotted to directors
and employees of the Spur group in 2004 for the purposes of the Maxshell Scheme.
Standard options were granted in respect of the balance of 1 475 957 shares for
the purposes of the Option Scheme.
Whilst it was initially anticipated that the participants of the Maxshell Scheme
would obtain two thirds of the value of Maxshell after five years and the
remaining third after six years by way of a dividend in specie of Spur shares,
the board of directors of Spur ("the Board") has resolved to anticipate the
vesting period of all the rights to 18 December 2009 and to settle the Maxshell
Scheme in cash. The Board has furthermore resolved to similarly anticipate the
vesting periods of the options issued in terms of the Option Scheme to 18
December 2009 in terms of the rules of the Scheme as approved by shareholders.
The shares required to honour the options in terms of the Option Scheme were
supplied by Share Buy-back (Proprietary) Limited, a wholly-owned subsidiary of
Spur.
The price at which all transactions were concluded was the ten-day volume-
weighted average price of the Spur share from 3 December 2009 to 17 December
2009 (both dates inclusive).
The consequent winding up of the Scheme has resulted in the following changes in
directors` interests:
Name: AJ Ambor
Designation: Executive Chairman
Date of transaction: 18 December 2009
Number of shares: 373 400
Class: Ordinary shares
Nature: Disposal
Cash distribution in respect of profit on disposal of
Spur Shares by Maxshell 72 Investments (Proprietary)
Limited
Nature of Interest: Indirect Beneficial (holding in Maxshell 72 Investments
(Proprietary) Limited)
Price per share: R3.46
Value of transaction: R1 291 937
Name: PG van Tonder
Designation: Managing Director
Date of transaction: 18 December 2009
Number of shares: 1 265 000
Class: Ordinary shares
Nature: Disposal
Cash distribution in respect of profit on disposal of
Spur Shares by Maxshell 72 Investments (Proprietary)
Limited
Nature of Interest: Indirect Beneficial (holding in Maxshell 72 Investments
(Proprietary) Limited)
Price per share: R3.46
Value of transaction: R4 376 782
Name: ME Farrelly
Designation: Executive Director
Date of transaction: 18 December 2009
Number of shares: 960 445
Class: Ordinary shares
Nature: Disposal
Cash distribution in respect of profit on disposal of
Spur Shares by Maxshell 72 Investments (Proprietary)
Limited
Nature of Interest: Indirect Beneficial (holding in Maxshell 72 Investments
(Proprietary) Limited)
Price per share: R3.46
Value of transaction: R3 323 022
Name: R van Dijk
Designation: Financial Director
Date of transaction: 18 December 2009
Number of shares: 749 139
Class: Ordinary shares
Nature: Disposal
Cash distribution in respect of profit on disposal of
Spur Shares by Maxshell 72 Investments (Proprietary)
Limited
Nature of Interest: Indirect Beneficial (holding in Maxshell 72 Investments
(Proprietary) Limited)
Price per share: R3.46
Value of transaction: R2 591 889
Name: K Robertson
Designation: Executive Director
Date of transaction: 18 December 2009
Number of shares: 773 156
Class: Ordinary shares
Nature: Disposal
Cash distribution in respect of profit on disposal of
Spur Shares by Maxshell 72 Investments (Proprietary)
Limited
Nature of Interest: Indirect Beneficial (holding in Maxshell 72 Investments
(Proprietary) Limited)
Price per share: R3.46
Value of transaction: R2 674 907
Name: PR Joffe
Designation: Executive Director
Date of transaction: 18 December 2009
Number of shares: 310 000
Class: Ordinary shares
Nature: Disposal
Cash distribution in respect of profit on disposal of
Spur Shares by Maxshell 72 Investments (Proprietary)
Limited
Nature of Interest: Indirect Beneficial (holding in Maxshell 72 Investments
(Proprietary) Limited)
Price per share: R3.46
Value of transaction: R1 072 654
Name: KA Madders
Designation: Non-executive Director
Date of transaction: 18 December 2009
Number of shares: 280 934
Class: Ordinary shares
Nature: Acquisition from Share Buy-back (Proprietary) Limited
for options exercised
Nature of Interest: Direct Beneficial
Price per share: R5.85
Value of transaction: R1 643 464
Name: KA Madders
Designation: Non-executive Director
Date of transaction: 18 December 2009
Number of shares: 280 934
Class: Ordinary shares
Nature: Disposal to Share Buy-back (Proprietary) Limited
Nature of Interest: Direct Beneficial
Price per share: R10.62
Value of transaction: R2 983 519
Name: DD Hyde
Designation: Non-executive Director
Date of transaction: 18 December 2009
Number of shares: 300 000
Class: Ordinary shares
Nature: Acquisition from Share Buy-back (Proprietary) Limited
for options exercised
Nature of Interest: Direct Beneficial
Price per share: R5.85
Value of transaction: R1 755 000
Name: DD Hyde
Designation: Non-executive Director
Date of transaction: 18 December 2009
Number of shares: 300 000
Class: Ordinary shares
Nature: Disposal to Share Buy-back (Proprietary) Limited
Nature of Interest: Direct Beneficial
Price per share: R10.62
Value of transaction: R3 186 000
Name: K Getz
Designation: Non-executive Director
Date of transaction: 18 December 2009
Number of shares: 234 111
Class: Ordinary shares
Nature: Acquisition from Share Buy-back (Proprietary) Limited
for options exercised
Nature of Interest: Direct Beneficial
Price per share: R5.85
Value of transaction: R1 369 549
Name: K Getz
Designation: Non-executive Director
Date of transaction: 18 December 2009
Number of shares: 234 111
Class: Ordinary shares
Nature: Disposal to Share Buy-back (Proprietary) Limited
Nature of Interest: Direct Beneficial
Price per share: R10.62
Value of transaction: R2 486 259
Clearance to deal was obtained in accordance with section 3.66 of the JSE
Listings Requirements
Cape Town
21 December 2009
Sponsor
SASFIN CAPITAL
A Division of Sasfin Bank Limited
Date: 21/12/2009 12:00:02 Produced by the JSE SENS Department.
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