Page 46 - Stellar IAR2015

REPORT OF THEBOARD OF DIRECTORS (CONTINUED)ISSUE AND REPURCHASE OF SHARESDuring the year under review the Company issued a total of 824 509 803 ordinary shares as follows:Number of ordinary shares issuedDateIssue Price (Rands)Speci c issue of shares for cash(1)75 000 00030 Jan 152.00Speci c issue of shares to settle underwriting and commitment fees2 525 00030 Jan 152.00Speci c acquisition issue - Digicore Holdings Ltd59 615 96330 Jan 152.00Speci c acquisition issue - Goliath Gold Mining Ltd32 062 13130 Jan 152.00Speci c acquisition issue - Mine Restoration Investments Ltd12 636 33230 Jan 152.00Speci c issue - Digicore Holdings Ltd purchase price adjustment36 758 13205 Oct 152.00Speci c acquisition issue - Torre Industries Ltd390 086 49426 Oct 152.00Speci c acquisition issue - Cadiz Holdings Ltd41 912 70702 Nov 152.00Issue in terms of Rights O er173 913 04402 Nov 152.301 Issued to public shareholders, save for the issue of 250 000 shares to Thunder Capital (Pty) Ltd pursuant to an underwrit- ing agreement. Mr PJ van Zyl is one of two directors of Thunder Capital (Pty) Ltd and holds no direct or indirect bene cial interest in the company.PREFERENCE SHARE CAPITALOn 30 November 2015, the Company issued 600 convertible redeemable preference shares at R1 million each to raise R600 million. The shares are convertible into ordinary shares at the instance of the holders at R2.78 per share and are fully redeemable on 31 May 2019. Dividends on preference shares are due and payable bi-annually at a rate of 95% of Prime.DIRECTORS’ INTERESTSThe table below set out the directors’ bene cial interests in share capital of the Company at 30 November 2015:Ordinary sharesDirectorDirectIndirectTotal ordinary shares% of total issued ordinary sharesCE Pettit---0.00%CB de Villiers^146 475-146 4750.02%DD Tabata-1 082 658(1)1,082,6580.12%PJ van Zyl--(2)-0.00%CJ Roodt*---0.00%CC Wiese-17 239 71117 239 7111.86%CH Wiese-17 239 71117 239 7111.86%L Mangope---0.00%J de Bruyn---0.00%Preference sharesDirectorDirectIndirectTotal preference shares% of total issued preferred sharesCE Pettit---0.00%CB de Villiers^---0.00%DD Tabata---0.00%PJ van Zyl--(2)-0.00%CJ Roodt*15-152.50%CC Wiese-94(3)9415.67%CH Wiese-94(4)9415.67%L Mangope---0.00%J de Bruyn---0.00%^ CB de Villiers appointed with e ect from 1 February 2015 * CJ Roodt appointed with e ect from 5 October 2015Notes:1. Shares held through Green Tree Investments 306 (Pty) Ltd2. Thunder Capital (Pty) Ltd, a company of which Mr PJ van Zyl is one of two directors, held 43 478 261 ordinary sharesconstituting 4.70% of the Company’s issued share ordinary share capital and 100 preference shares constituting 16.67% of the Company’s issued preference share capital at 30 November 2015. Mr van Zyl holds no direct or indirect bene cial interest in Thunder Capital (Pty) Ltd3. Shares held through Metcap 14 (Pty) Ltd4. Shares held through Cream Magenta 140 (Pty) Ltd42 | STELLAR CAPITAL PARTNERS