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ITALTILE LIMITED - Pledge of Shares by a Director

Release Date: 28/06/2024 14:30
Code(s): ITE     PDF:  
Wrap Text
Pledge of Shares by a Director

ITALTILE LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1955/000558/06)
Share code: ITE  ISIN: ZAE000099123
("Italtile" or "the Company")


PLEDGE OF SHARES BY A DIRECTOR


In compliance with paragraphs 3.63 to 3.74 (both inclusive) of the Listings Requirements of the JSE Limited,
the following is disclosed:

Name of director:                             Ms Nkateko Khoza ("Ms Khoza")

Company:                                      Italtile Limited

Class of securities:                          Ordinary shares

Extent of director's interest:                Indirect beneficial

Clearance to deal:                            Yes

Date of transaction date:                     27 June 2024

Nature of transaction:                        Pledge and cession in securitatem debiti ("Pledge") of ordinary
                                              shares by Dzana Investments Proprietary Limited ("Dzana"), a
                                              company of which Ms Khoza is the Chief Executive Officer and a
                                              20% shareholder, and through which she holds an indirect
                                              beneficial interest in Italtile. The Pledge is to secure the financial
                                              obligations of Hoyohoyo Hotels and Resorts Proprietary Limited
                                              ("Hoyohoyo"), a company whose shareholders are Ms Khoza's
                                              extended family, under a guarantee as described below

Number of ordinary shares                     3 397 264

Deemed price per ordinary share:              R10.90 (based on the closing price of an ordinary share as at
                                              27 June 2024)

Deemed value of the transaction:              R37 030 177.60

Nature of the financial obligation:           Dzana has guaranteed the repayment of a loan ("Loan") made to
                                              Hoyohoyo by Rallen Proprietary Limited ("Rallen")

Term of the financial obligation:             One year, unless Rallen agrees to the extension of the term of the
                                              Loan

Amount of the financial obligation:           The outstanding financial obligations under the Loan is currently
                                              R41 809 635.36


Johannesburg
28 June 2024

Sponsor
Merchantec Capital




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Date: 28-06-2024 02:30:00
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