TIDMAFRB TIDMAFID

RNS Number : 4400J

AFI Development PLC

09 September 2016

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

The notification below is made in accordance with the requirements of the EU Market Abuse Regulation

 
 1.    Details of PDMR/person closely associated with them (PCA) 
----  ----------------------------------------------------------------------------------------------------------------- 
 (a)   Name                                   Lev Leviev 
----  -------------------------------------  -------------------------------------------------------------------------- 
 (b)   Position/status                        Director (Executive Chairman) 
----  -------------------------------------  -------------------------------------------------------------------------- 
 (c)   Initial notification/ amendment        Initial Notification 
----  -------------------------------------  -------------------------------------------------------------------------- 
2.    Details of the issuer 
----  ----------------------------------------------------------------------------------------------------------------- 
a)    Name                               AFI Development PLC 
----  ---------------------------------  ------------------------------------------------------------------------------ 
 3.    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) 
        each type of transaction; (iii) each date; and (iv) each place where transactions have been 
        conducted 
----  ----------------------------------------------------------------------------------------------------------------- 
 (a)   Description of the financial         GDRs of US$0.001 each 
       instrument                            B ordinary shares of US$0.001 each 
----  -----------------------------------  ---------------------------------------------------------------------------- 
 (b)   Nature of the transaction                 1. Purchase of securities. 
                                                 Acquisition from Africa Israel Investments Ltd of: 
                                                 336,948,796 GDRs; and 
                                                 342,799,658 B ordinary shares 
                                                 2. Grant of call option to Africa Israel Investments Ltd. in respect 
                                                 of 51,933,807 GDRs and 
                                                 52,835,598 B ordinary shares 
                                                 Flotonic Limited, the acquiror of the above GDRs and B ordinary shares 
                                                 and which is indirectly 
                                                 owned and controlled as to 100% by Mr Leviev, has granted a pledge in 
                                                 respect of 336,948,796 
                                                 GDRs and 342,799,658 B ordinary shares in connection with the 
                                                 financing of the above purchase 
                                                 of securities 
 (c)   Price(s) and volume(s)                    Price(s)                           Volume(s) 
----  -----------------------------------  ---  ---------------------------------  ---------------------------------- 
       PURCHASE                                  NIS 0.80912284 per GDR             336,948,796 GDRs 
----  -----------------------------------  ---  ---------------------------------  ---------------------------------- 
       PURCHASE                                  NIS 0.80912284 per B ordinary      342,799,658 B ordinary shares 
                                                 share 
----  -----------------------------------  ---  ---------------------------------  ---------------------------------- 
       CALL OPTION                               US$0.216 per GDR                   51,933,807 GDRs 
                                                  US$0.295 per B ordinary share      52,835,598 B ordinary shares 
----  -----------------------------------  ---  ---------------------------------  ---------------------------------- 
 (d)   Aggregated information Aggregated    Total consideration NIS 550,000,000 for 679,748,454 securities in AFI 
       volume Price                         Development PLC 
 (e)   Date of the transaction              2016-09-07 (Israel Daylight Time) 
----  -----------------------------------  ---------------------------------------------------------------------------- 
 (f)   Place of the transaction             Outside a trading venue 
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This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 09, 2016 05:48 ET (09:48 GMT)

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