Spur - Acquisition of Spur ordinary shares,
22 December 2004 17:09
Spur - Acquisition of Spur ordinary shares,                                     
       Sale of shares by the company`s chairman                                 
       Allocation of shares and options to the directors                        
SPUR CORPORATION LIMITED                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/000828/06)                                            
Share code : SUR                                                                
ISIN : ZAE000022653                                                             
(`Spur` or `the company`)                                                       
1Acquisition of Spur ordinary shares (`shares`), sale of shares by the company`s
Chairman and allocation of shares and options to the directors in terms of the  
Spur Management Incentive Share Scheme 2004 (`the Scheme`)                      
Shareholders are advised that, in terms of the Scheme, which was approved by    
shareholders at a general meeting held on 15 December 2004, the following       
transactions have taken place:                                                  
1.   Acquisition of shares from Share Buy-Back (Proprietary) Limited (`SBBCo`)  
     In an inter-group transaction, Maxshell 72 Investments (Pty) Limited       
     (`Newco`) has acquired 3 424 043 shares from SBBCo (currently held as      
     treasury shares) at R5.79 each.                                            
2.   Purchase of shares from Mr. AJ Ambor (`the Related Party`)                 
     In terms of the Scheme, Newco was authorised to purchase a maximum of 5 495
     957 shares on the open market and / or from the Related Party at the       
     reference price on the JSE Securities Exchange South Africa (`JSE`) at the 
time of purchase.                                                          
The company has purchased 4 850 000 Spur shares from the Related Party at R5.85 
each and the balance of the shares required will be purchased on the open       
market.                                                                         
3.   Sale of shares by the Related Party                                        
     In compliance with section 3.63 of the Listings Requirements of the JSE,   
     the following dealings by a director in the company`s securities are       
     advised:                                                                   
Name of director                 Allen J Ambor (Executive Director)        
     Date of transaction              21 December 2004                          
     Sale Price                       R5.85                                     
     Number of securities             4 850 000                                 
Total value                      R28 372 500                               
     Class of securities              Ordinary shares                           
     Nature                           Sale                                      
     Interest                         Direct beneficial                         
Clearance to deal in terms of    Obtained                                  
     paragraph 3.66                                                             
4.   Allocation of shares and options to directors in terms of the Scheme       
     In compliance with paragraph 3.63 of the Listings Requirements of the JSE, 
the following shares / options were allocated to directors of the company  
     on 22 December 2004:                                                       
     ALLOCATION OF SHARES TO EXECUTIVE DIRECTORS:                               
     Name of     Nature of    Class of    Interest in     Number of             
executive   transaction  shares      transaction     shares     *Price     
     director                                                                   
     AJ Ambor    Indirect     Ordinary    Indirect non-   350 000    R5.84      
                 holding                  beneficial                            
through                                                        
                 Newco                                                          
     PG van      Indirect     Ordinary    Indirect non-   1 240 790  R5.84      
     Tonder      holding                  beneficial                            
through                                                        
                 Newco                                                          
     M           Indirect     Ordinary    Indirect non-   936 445    R5.84      
     Farrelly    holding                  beneficial                            
through                                                        
                 Newco                                                          
     K           Indirect     Ordinary    Indirect non-   749 156    R5.84      
     Robertson   holding                  beneficial                            
through                                                        
                 Newco                                                          
     P Joffe     Indirect     Ordinary    Indirect non-   300 000    R5.84      
                 holding                  beneficial                            
through                                                        
                 Newco                                                          
* As per the rules of the Scheme, including transaction costs.                  
ALLOCATION OF OPTIONS TO NON-EXECUTIVE DIRECTORS                                
Name of    Nature of   Class of  Interest in Number   **Option First       
     non-       transaction shares    transaction of       price    vesting     
     executive                                    options           date        
     director                                                                   
K Getz     Allocation  Ordinary  Indirect    234 111  R5.79    22.12.2009  
                                      non-                                      
                                      beneficial                                
     W Rule     Allocation  Ordinary  Indirect    280 934  R5.79    22.12.2009  
non-                                      
                                      beneficial                                
     DD Hyde    Allocation  Ordinary  Indirect    300 000  R5.79    22.12.2009  
                                      non-                                      
beneficial                                
     **As per the rules of the Scheme.                                          
Cape Town                                                                       
22 December 2004                                                                
Sponsor:                                                                        
Barnard Jacobs Mellet Corporate Finance (Pty) Limited                           
Date: 22/12/2004 04:54:07 PM Supplied by www.sharenet.co.za                     
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