POLITICS

Avusa CEO Prakash Desai cashes in R3,7m in share incentives

Mikki Xayiya appointed interim chairman, Mike Robertson also offloads shares

THREE STATEMENTS ISSUED BY AVUSA, September 21 2011

AVUSA LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2008/002461/06)
Share code: AVU ISIN code: ZAE000115895 ("Avusa")

APPOINTMENT OF INTERIM NON-EXECUTIVE CHAIRMAN

In terms of paragraph 3.59 (b) of the Listings Requirements of the JSE Limited, Avusa advises that it has appointed Mr Mikki Xayiya as its interim non-executive chairman with effect from 20 September 2011.

In order to comply with paragraph 3.84 (c) of the Listings Requirements of the JSE Limited, the board of directors will deliberate on a suitable appointment for a lead independent director, which will be announced in due course.

DEALING IN SHARE-BASED INCENTIVES BY AN EXECUTIVE DIRECTOR

In terms of paragraphs 3.63 - 3.70 of the Listings Requirements of the JSE Limited, the following information relating to the exercise of share-based incentives by an executive director, is disclosed:

Executive director: Prakash Desai

Company of which a director: Avusa

Date of exercise of share-based incentives: 19 September 2011

Exercise price: R24,00 per share

Allocation price: Nil

Class of securities: Avusa ordinary shares

Number of share-based Incentives: 153 948

Value of transaction: R3 694 752

Nature of transaction: Exercise of rolled-over share-based incentives granted in 2003 and 2004 by Johnnic Communications Limited

Extent of interest: Direct beneficial

Written clearance to deal: Yes

DEALING IN SHARES BY A DIRECTOR OF A MAJOR SUBSIDIARY

In terms of paragraphs 3.63 - 3.70 of the Listings Requirements of the JSE Limited, the following information relating to the sale of shares by an executive director of a major subsidiary, is disclosed:

Director of a major subsidiary: Michael Robertson

Company of which a director: Avusa Media Limited

Date of sale of shares: 19 September 2011

Sale price:  R23,51 per share

Class of securities: Avusa ordinary shares

Number of shares sold: 5 000

Value of transaction: R117 550

Nature of transaction: Sale of Avusa ordinary shares

Extent of interest:  Direct beneficial

Written clearance to deal: Yes

Statements issued by Avusa through the JSE SENS service, September 21 2011

Click here to sign up to receive our free daily headline email newsletter