NPLS FOR DIS­COV­ERY

Finweek English Edition - - SIMON SAYS - ed­i­to­rial@finweek.co.za * The writer owns shares in Dis­cov­ery

Hold­ers of Dis­cov­ery* shares at the close of busi­ness on Fri­day, 13 March, would have re­ceived just over 9.38 nil-paid let­ters (NPLs) per 100 Dis­cov­ery shares they held. Th­ese NPLs en­ti­tle one to buy new Dis­cov­ery shares at R90 each, and I will be tak­ing up my rights and buy­ing at R90 from the NPLs I re­ceived. If you were not a share­holder on the close of Fri­day the 13th, buy­ing the NPLs in the mar­ket won’t be of any ben­e­fit as their price will sim­ply be the Dis­cov­ery share price less the R90 take-up level.

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