Spear REIT Limited (Share Code: SEA, ISIN: ZAE000228995, LEI: 378900F76170CCB33C50) has recently disclosed significant share transactions involving an associate of one of its directors. The announcement, made in compliance with the JSE Limited Listings Requirements, sheds light on the dealings and provides insights into the nature and extent of these transactions.
The director in question is Quintin Michael Rossi, who holds an executive position within Spear REIT Limited. The share transactions were executed by Evlah Investments Proprietary Limited, an associate company of Mr. Rossi. The director’s relationship with Evlah Investments is such that he is a director of the company and also holds the position of beneficiary and trustee of the sole shareholder of the associate.
The table below summarizes the details of the share transactions:
|Date of Transactions||Number of Securities Transacted||Price per Security (Cents)||Total Rand Value of Securities Transacted|
|18 July 2023||400||710||R2,840.00|
|19 July 2023||130||709||R921.70|
|20 July 2023||2,500||High: 709||R17,719.75|
On 18th July 2023, Evlah Investments purchased 400 ordinary shares of Spear REIT Limited at a price of 710 cents per share, resulting in a total transaction value of R2,840.00. The next day, on 19th July 2023, 130 ordinary shares were acquired at a price of 709 cents per share, with a total transaction value of R921.70.
The most substantial transaction occurred on 20th July 2023, where Evlah Investments acquired 2,500 ordinary shares at an average price of 708.79 cents per share. During this transaction, the share price fluctuated within the range of 708 to 709 cents per share, with the highest price recorded at 709 cents and the lowest at 708 cents, resulting in a total transaction value of R17,719.75.
It is essential to highlight that the director’s interest in these share transactions is considered indirect and beneficial since he is associated with Evlah Investments Proprietary Limited, the company responsible for the share purchases.
Spear REIT Limited, in its commitment to transparency and compliance, obtained clearance for these transactions under paragraph 3.66 of the JSE Limited Listings Requirements, ensuring adherence to the relevant regulations governing share dealings.
As a leading real estate investment trust, Spear REIT Limited continues to focus on acquiring, holding, and effectively managing a diversified portfolio of properties, with the aim of providing consistent and favorable returns to its shareholders.